Social token platform Roll raises $10 million in Series A funding

Sep 28, 2021 | The Block News | 0 comments

social-token-platform-roll-raises-$10-million-in-series-a-funding

Roll, a platform that allows users to create their own branded tokens, announced Tuesday that it raised $10 million in Series A funding.

The Hong Kong-based venture firm IOSG Ventures led the round. Other participants include Animoca Brands, Alchemy, Huobi Ventures, Weekend Fund, Audacity, and Mischief Fund. 

Roll allows people with a sizable following to create social tokens. These tokens can then be branded and disseminated as the creator sees fit. For example, a creator named Connie Digital offers his social token $HUE to followers who read his newsletter. Connie Digital’s fans can then spend $HUE on NFTs or to tip on Discord. 

“We’re not trying to be Web3 Twitter or Facebook,” Roll CEO Bradley Miles told The Block. “We want to be more of a Stripe for social tokens.”

Roll supports over 350 creators, $2 million daily trading volume, and a year-to-date trading volume of $680 million. With prior funding from Galaxy Interactive, Hustle Fund, Gary Vaynerchuk and other investors, Roll has raised $12.7 million since its 2019 inception.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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