Creators of Web3 can now mint social tokens on a new platform

Tokens for social networks are coming to Ethereum and Polygon with coinvise’s $2.5 million seed funding.

A seed-funding round led by Galaxy Digital HK and IDEO CoLab Ventures has raised $2.5 million for social token platform Coinvise.

Coinvise aims to leverage social tokens as a way to help communities coordinate and enable creators to monetize their work without handing over their work to centralized platforms.

In this vision, platform users also own the platform, with a shared currency, according to Web3’s “ownership economy” thesis.

Coinvise joins other social token platforms such as Rally, Roll and Fyooz, but offers a suite of tools aimed at making it easy for creators to use their tokens for “rewards, airdrops, crowdfunding, gated access and [non-fungible tokens],” the firm wrote.

Besides Ethereum, the platform works on the Polygon network as well.

Global Coin Research, Perpetual Value, Morgan Beller, DeFi Alliance, FreeCo, Scalar Capital, A.Capital, DeFi Alliance, A.Capital, A.Capital, A.Capital, and Block0 also participated in the round. In addition to Jill Carlson, Jaynti Kanani, Alex Masmej, and others, angel investment is available through a number of sources.

Soona Amhaz, an investor at Volt Capital, said that Coinvise is unlocking tremendous value for communities by streamlining the process of minting and exchanging social tokens and NFTs. “We are looking forward to working with CEO Jenil [Thakker] as he leads the way to build out the new creator economy.”

Written by IOI

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