TOKHIT Secures $100 Million Investment for Blockchain-based Social Media App

02/13/2023 10:38 • NFT Newsflash • 137 views

On February 13, TOKHIT, a blockchain-driven game-based social media application, announced the completion of a financing of US $100 million, but the company did not disclose the investor’s information or the valuation amount after the financing (TOKHIT disclosed the company’s valuation of about US $155 million at the beginning of 2022). The TOKHIT platform can help content creators and NFT/cryptocurrency lovers make profits through social activities. Andrei Ureche, its co-founder, said that the platform will also provide NFT and digital asset trading, NFT pledge and other services in the future, so that users can find more opportunities to cooperate with brands to gain incentives. （romania-insider）

TOKHIT, a blockchain game-based social media application, completed a $100 million financing

Interpret the above information:

TOKHIT, a blockchain-driven social media application, has announced the successful completion of a $100 million financing round, signaling renewed investor interest in blockchain technology. The app allows content creators and enthusiasts of NFT and cryptocurrency to monetize their social activities, offering opportunities to cooperate with brands and gain incentives. While TOKHIT did not disclose the investor’s information or the valuation amount after the financing, the company’s previous valuation stood at approximately $155 million at the start of 2022.

The announcement comes at a time when the blockchain industry is gaining momentum across various sectors, ranging from finance and real estate to healthcare and art. Blockchain technology eliminates the need for third-party intermediaries, enabling secure, peer-to-peer transactions. In the case of social media, blockchain can disrupt conventional business models and empower content creators to monetize their work transparently and securely.

TOKHIT’s co-founder, Andrei Ureche, stated that the app would expand its services to include NFT and digital asset trading, NFT pledge, and more. These offerings are expected to provide users with additional opportunities to collaborate with brands and monetize their social activities through smart contracts.

The rise of NFTs or non-fungible tokens has been a major driver of blockchain adoption in recent times, with the market for NFTs increasing tenfold in 2021. NFTs are unique, digital assets or collectibles stored on a blockchain that allow for ownership verification, transferability, and tamper-proofing. They have found applications in various domains, including art, music, gaming, and sports.

In conclusion, TOKHIT’s successful financing round represents a significant milestone for blockchain-based social media apps and NFTs. The app’s focus on content creation and monetization, coupled with its forthcoming services, will provide users with multiple avenues for revenue generation. The future of social media may well be driven by blockchain technology, enabling content creators to exercise greater control over their work and reap the benefits of a decentralized economy.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/42.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

TOKHIT Secures $100 Million Investment for Blockchain-based Social Media App

TOKHIT, a blockchain game-based social media application, completed a $100 million financing

Related recommendations