202128 Sep

Roll Raises $10M to Expand Social Tokens Service for Creators

Summary

Roll, a New York-based social token infrastructure company, today announced it has raised $10 million in Series A funding led by IOSG Ventures. Miles also drew parallels with traditional web 2.0 systems like Patreon, Substack, and YouTube, where it’s impossible to have a proper DAO governance model in place. Launched in 2019, Roll is built on the Ethereum blockchain, which, according to Miles, not only lets members own a piece of their community, but also ensures those social tokens’ interoperability across the decentralized web. As Miles explained, “this feature allows an application layer for social token ownership to form and gives dedicated members the economic benefits of being early in a community.” “DAO governance is beginning to occur at the community level as well. Becoming the Stripe for social tokens When asked whether Roll would consider integrating other blockchains that boast higher transaction throughput and reduced fees, Miles said that “Ethereum currently represents the best version of the decentralized web for Roll.” However, “if a viable DeFi ecosystem emerges on another chain and creators want to leverage those tools, it’s something we’ll begin to seriously consider,” he added.

Source: Decrypt

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