TL;DR
- Tomo secures $3.5 million in seed funding led by Polychain Capital and backed by other prominent investors such as Consensys, Symbolic Capital, and OKX Ventures.
- Introducing TomoID, a new feature aimed at content creators and businesses, offering tools such as bio links and an affiliate program with cryptocurrency commissions.
- Its strength lies in its ability to simplify access and use of blockchain technology for social media users, allowing them to purchase cryptocurrencies with fiat money through partners and set up secure digital wallets without relinquishing control to third parties.
Tomo, the Web3 social application, has just secured a $3.5 million investment in seed funding from major investors. The funding was led by Polychain Capital and backed by Consensys, Symbolic Capital, OKX Ventures, among others.
The platform has announced the introduction of a new feature called TomoID, specifically designed for content creators and businesses. It will offer a variety of useful tools, including a bio link feature and an affiliate program with cryptocurrency commissions. Additionally, a complete overhaul of the platform’s reward system is expected, aiming to incentivize early contributors and possibly launch a platform token to reward users.
1/ 🎉 We're proud to announce $3.5M Seed funding led by @polychain, with participation from @consensys, @NomadCapital_io, @symbolicvc, @OKX_Ventures, @Ventures_HTX, @StoryProtocol, @KuCoinVentures, @daofive!
Read more about our mission 👇https://t.co/o4hZSJOx1d pic.twitter.com/4Xmfl6SDfL
— Tomo (🦔,🦔) (@tomo_social) April 10, 2024
Tomo’s strength lies in its ability to simplify access and use of blockchain technology for social media users. The platform allows users to purchase cryptocurrencies with fiat money through partners and set up secure digital wallets without the need to relinquish control to third parties. This mechanism is made possible through the use of Ethereum layer 2 technology, such as Linea and Base. Additionally, it features advanced security functionalities such as multi-factor authentication and social wallet recovery.
Tomo Proposes a Shared Royalty System for Content Creators
In addition to its focus on blockchain technology. Tomo also boasts an innovative “Keys” system, allowing users to purchase access to creators’ content and direct messages using Ether. This system includes a 10% royalty fee, which is evenly shared between Tomo and the content creator. This is part of the platform’s strategy to add financial incentives to social media interactions.
Thanks to the received capital and the new features in development. Tomo could become a leading platform in integrating blockchain technology and social media. Its unique approach, innovation capability, and user-friendliness promise to open new opportunities in the Web3 space and attract more users to decentralized finance.
