Social token provider Roll has raised total funds of $12.7, of which a sum of $10 million is raised under the Series A funding. In addition, it is learned that the social token infrastructure provider has raised funds to rescue creators by helping them tokenize their interactions with communities.
The funding round has many participants
With IOSG Ventures taking the lead, the funding round saw the participation of Animoca Brands, Alchemy, Huobi Ventures, Weekend Fund, Mischief Fund, Audacity, and existing investors like Galaxy Interactive Hustle Fund, Gary Vaynerchuk, Trevor McFederies, Ryan Selkis, and Balaji Srinivasan.
The digital currencies can be used as the basis of a decentralized creator economy
According to reports, Social tokens are blockchain-based digital currencies. Furthermore, it is learned that digital currencies are armed with the capacity to be used as a foundation that can be used as a decentralized creator of the economy.
Organizations and communities can tokenize content for those that are part of the community
Explaining the potential of blockchain-based digital currencies, IOSG Ventures founding partner Jocy Lin stated that decentralized autonomous organizations (DAOs) and communities could tokenize, trade, and gate-keep content by using Roll as a medium are part of the community. Lin further explained that by taking advantage of a social token, its users and the respective holders could become a part of and contribute to a community.
Nonfungible tokens (NFTs) are popular, and their growth is spiking
It is beyond doubt that nonfungible tokens (NFTs) are more than just popular, and their growth is spiking at a relatively fast pace. The co-founder and CEO of Roll Bradley Miles went on record to confirm this piece of information. An optimistic Miles added that the bull market had become a revolution for creatively inclined individuals like artists, musicians, and creators in many parts of the world. The co-founder and CEO retreated that NFTs are the face of content on blockchains, and they can be introduced as represent the future of content on blockchains. He added that this form would become the new normal for content creators in art who wish to make their work ownable.
Explaining the launch of a social token is no rocket science, Miles, in an interview with Cointelegraph, shared that launching a social token is as good as launching a YouTube channel.