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

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.

Source