The social token platform Coinvise opened the donation bag and collected 2.5 million US dollars in a financing round. The money will flow into the development of the platform, which sees itself as part of the Web 3.0 revolution.
The social token platform Coinvise has raised $ 2.5 million in a financing round. The money goes into the development of the platform and the expansion of the team, writes the company in a Press release. Participants in the round included IDEO CoLab Ventures, Galaxy Digital HK, Global Coin Research and DeFi Alliance.
Social tokens have so far been more of a niche existence, but are increasingly being anchored in the crypto ecosystem through platforms such as Coinvise. Via the platform founded by Jenil Thakker, individuals as well as communities can mine “social tokens” and use functions such as airdrops, crowdfunding or NFT for marketing. The goal behind Coinvise is to build “open economies on the Web3”:
The overarching goal of Coinvise is to use social tokens as a means to incentivize better coordination within communities and enable creators to monetize their work without relinquishing ownership to centralized platforms.
Press release Coinvise
Therefore Coinvise is designed from the ground up as an “open platform”, “which not only enables seamless interaction, but also reach for creators to expand their community”. Coinvise does not collect any shares in the revenue and also enables the tools to be integrated on Discord. The company sees itself as part of a great social experiment and the Web 3.0 revolution, i.e. the transition to a decentralized Internet, in which individual providers no longer have a monopoly and data control lies with the users: “With the rise of micro-economies and community-owned social tokens in 2020, social networks are redefining the way we work ”.