From Trillionaires to Open Source Ware: Planetary Resources Falls to Earth

Atari Asteroids arcade game. (Credit: James G. Murphy Co.)

by Douglas Messier
Managing Editor

When it came out of stealth mode in 2012, Planetary Resources promised to fuel the development of the solar system and mint the world’s first trillionaires by mining the riches of the asteroids.

Eight years later, Planetary Resources’ trillionaire-making intellectual property has been open sourced for anyone to use by ConsenSys, a block chain startup that purchased the company in October 2018.

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Planetary Resources’ New Owner Seems a Bit Flaky

Forbes takes a critical look at cryptocurrency/block chain guru Joe Lubin, whose ConsenSys company purchased asteroid mining company Planetary Resources. (Although given the headline, critical seems polite: Cryptopia In Crisis: Joe Lubin’s Ethereum Experiment Is A Mess. How Long Will He Prop It Up?)

So, how does asteroid mining fit into Lubin’s master plan?

Lubin insists ConsenSys is getting more selective in picking projects. But old habits die hard. In October it bought a nine-year-old asteroid-mining company called Planetary Resources. “We see it as a group of amazingly capable people who are interested in exploring how blockchain could ramify on space operations,” Lubin says abstrusely.

Ramify? Huh…

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Luxembourg Pivots Right Out of Planetary Resources’ Investment


The government of Luxembourg’s investment in asteroid miner turned block chainer Planetary Resources is over, the Luxembourg Times reports.

The Luxembourg government sold its 10% stake in US space firm Planetary Resources ahead of its takeover by blockchain venture ConsenSys.

ConsenSys announced on Wednesday it had acquired Planetary Resources through an asset-purchase transaction.

The Luxembourg government first took a stake in the company in 2016, when the Economy Ministry signed a memorandum of understanding and agreed to invest €25 million. 

The Luxembourg government has also invested in Planetary Resources’ rival, Deep Space Industries.











Planetary Resources Pivots Again: From Asteroid Mining to Block Chain

NEW YORK (ConsenSys PR) — Blockchain venture production studio ConsenSys, Inc. has acquired the pioneering space company Planetary Resources, Inc. through an asset-purchase transaction. Planetary Resources’ President & CEO Chris Lewicki and General Counsel Brian Israel have joined ConsenSys in connection with the acquisition.
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