Tomo, a SocialFi participant, has closed a $3.5 million fundraising round headed by Polychain Capital. Consensys, Symbolic Capital, OKX Ventures, and others are among the round’s notable investors. This financing boost is a huge step forward in Tomo’s ambition to pioneer a multichain Web3 Social Wallet.
Tomo uses a Keys system, which allows users to purchase access to producers’ material and direct chat. Content moderation follows community norms, with transactions displayed in USD but completed in ether. Tomo charges a 10% royalty fee, creating a symbiotic relationship between the platform and content authors.
The app, which is compatible with iOS and Android, intends to make blockchain technology more accessible to social network users. It integrates with major services such as Gmail and Instagram to provide a more seamless experience. With TomoID, the platform launches a social wallet for content providers and businesses, complete with affiliate programs and link-in-bio features.
In addition, Tomo intends to improve its points system to encourage user involvement. Notably, the platform allows for the production and exchange of ERC-404 tokens termed Tomojis, which provide fractional ownership and serve as collectible digital assets.
