Roll, a blockchain startup building infrastructure for social money, secures $10 million in a Series A funding round led by IOSG Ventures.
The series A funding also got participation from other prominent crypto investors, including Animoca Brands, Alchemy, Huobi Ventures, Weekend Fund, Mischief Fund, and Audacity.
IOSG joins existing backers in Roll, which includes Galaxy Interactive, Hustle Fund, Gary Vaynerchuk, Trevor McFederies, Ryan Selkis and Balaji Srinivasan.
Founded in 2019, Roll enables creators to develop their own branded digital currency (called social money) unique to their online presence. It provides developers with the infrastructure and APIs to seamlessly create and integrate social tokens into new or existing web applications. These applications can range from marketplaces to streaming, audio, gaming, chat, DAOs, and much more.
Roll is now being used by 350 creators from Non-fungible token (NFT) innovators like Whaleshark to household names like Terry Crews. Last month, Roll’s social tokens eclipsed $250 million in market value and over $2 million in daily trading volume.
Jocy Lin, Founding Partner of IOSG Ventures, said:
“Roll is at the forefront of the new world of social interactions, communities and DAOs. Bradley and Sid have a clear vision on how they want to bring Web3 to the mainstream and change the way we form and interact with communities today. Through Roll, DAOs and communities can tokenize, trade and gate-keep content for those that are part of the community. Anyone holding a community’s social token is welcome to join and contribute.”
Social tokens are branded digital currencies that represent a core piece of the creator economy. Powered by blockchains such as Ethereum, social tokens enable creators with the ability to make a market that belongs to them and their audience without third-party intermediaries, like platforms.
“The future of the web is all about shared ownership. Roll is empowering new business models for creators where incentives are aligned.”Ryan Hoover, founder of Product Hunt and Weekend Fund
The latest funding round brings the company’s total funds raised to $12.7 million.