Blockchain platform to issue 'social money' raises $10m investment

Blockchain platform to issue 'social money' raises $10m investment

Ethereum platform Roll has closed a $10m Series A funding round, led by venture capital firm IOSG Ventures.

Ethereum platform Roll has closed a $10m Series A funding round, led by venture capital firm IOSG Ventures.

Blockchain game provider Animoca Brands, infrastructure platform Alchemy, Huobi Ventures, Weekend Fund, Audacity and Mischief Fund also participated in the round.

The platform was previously backed by Galaxy Interactive, Hustle Fund, Gary Vaynerchuk, Ryan Selkis and others. Including the new round, the total investment amounted to $12.7 million.

The funds raised will be used by the team to expand its staff and technical capabilities.

Roll allows any user to issue their own branded tokens on the Ethereum blockchain. These can be used to monetise activity within their community. The platform calls such coins 'social money'.

According to the team, Roll supports more than 350 token creators. It has a daily trading volume of $2 million and an annual trading volume of $680 million.

Recall that in March 2021, Roll's blockchain platform was attacked. An unknown person received almost 3,000 ETH (~$5.7 million at the time), some of which was sent to a Tornado Cash mixer.

HIVE posted $42.5m net profit for 2021

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