Social token infrastructure provider Roll raised $10 million in Series A funding, bringing the company’s total funds raised to $12.7 million to help creators tokenize their interactions with communities.
Led by IOSG Ventures, the funding round saw participation from 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.
Social tokens are blockchain-based digital currencies that have the potential to be used as the basis of a decentralized creator economy. “Through Roll, decentralized autonomous organizations (DAOs) and communities can tokenize, trade, and gate-keep content for those that are part of the community,” IOSG Ventures Founding Partner Jocy Lin explained, adding a social token enables its holders to join and contribute to a community.
Defining the explosive growth and popularity of nonfungible tokens (NFTs) as a “cultural bull market,” Roll Co-founder and CEO Bradley Miles said that this bull market became a renaissance for artists, musicians