Blockchain platform for issuing ‘social money’ raises $10 million in funding

Roll, an Ethereum platform, closed a Series A funding round of $10 million led by venture capital firm IOSG Ventures.

🥳 We’re so excited to announce our $10M Series A round with an incredible group of investors.

Social tokens are just getting started and will be one of the biggest plays of the decade. WAGMIhttps://t.co/i23jXV3ig4 pic.twitter.com/JkkJ6Qk79u

— Roll (@tryrollhq) September 28, 2021

The round also included Animoca Brands, a blockchain-games provider, Alchemy, Huobi Ventures, Weekend Fund, Audacity and Mischief Fund.

Earlier, the platform was backed by Galaxy Interactive, Hustle Fund, Gary Vaynerchuk, Ryan Seacrest and others. With the new round, total investments amounted to $12.7 million.

The funds will be used to expand the team and strengthen technical capabilities.

Roll allows any user to issue their own branded tokens on the Ethereum blockchain. They can be used to monetise activity within their community. The platform calls such coins ‘social money’.

According to the team, Roll supports more than 350 token creators. Daily trading volume is $2 million, annual volume $680 million.

Back in March 2021, the Roll blockchain platform came under attack. An unknown obtained almost 3,000 ETH (~$5.7 million at the time), part of which was sent to the Tornado Cash mixer.

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