ConsenSys, the ethereum-focused venture studio, just acquired Planetary Resources, a space venture hoping to mine asteroids. Planetary Resources announced on Wednesday that ConsenSys coordinated an asset-purchase transaction – resulting in president and CEO Chris Lewicki and general counsel Brian Israel taking over the firm and joining the ethereum-focused startup.
The company formed in 2012 and intended to mine asteroids for resources. It has launched a pair of satellites into Earth orbit, and even includes a successful test of an infrared imager on its Arkyd-6 craft. However, after the company failed to secure a new round of funding this past June, it began to encounter financial difficulties, according to Geekwire.
ConsenSys founder Joe Lubin said on Wednesday that he admired Planetary Resources due to its record and talent. “Bringing deep space capabilities into the ConsenSys ecosystem reflects our belief in the potential for Ethereum to help humanity craft new societal rule systems through automated trust and guaranteed execution. And it reflects our belief in democratizing and decentralizing space endeavors to unite our species and unlock untapped human potential,” he added.
Lewicki said in a statement that he was “proud of our team’s extraordinary accomplishments,” and thanked the company’s past supporters.In addition, Planetary Resources will continue its work “to expand humanity’s economic sphere of influence into the solar system.”
“Over the course of nearly a decade, Planetary Resources has simultaneously pioneered technology, business, law and policy, and brought the promise of space resources irreversibly closer to humankind’s grasp,” he added.