So-Col (Social Collectables), the Web3 social platform founded by Irene Zhao, today announced new funding of $4.5 million in two rounds.
The latest round, valued at $1.5 million, was solely sponsored by DWF Labs. As investment firm web3 said Tuesday, So-Col also raised $3 million last May in a round led by Blockchain Capital.
So-Col’s total funding to date stands at $6.25 million after raising $1.75 million in February 2022. All three funding rounds are token rounds, meaning investors have bought So-Col’s simp tokens.
With the new investment from DWF, So-Col on Ethereum plans to multichain and support more Layer 1 and Layer 2 blockchains, including Starkware. Different brands use NFT, also known as The “collectables” on their platform are the basis for membership and exclusive content.
So-Col currently has around 300 creators using its platform, according to Zhao, and plans to support more creators by incentivizing them with simp tokens and/or cash payments.
Zhao said So-Col’s simp token was listed on KuCoin in January. And the platform aims to list tokens on other exchanges as well.
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