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TOKHIT Raises $100 Million for Blockchain-Driven Social Media App, Plans to Expand into NFT and Digital Asset Trading

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On February 13, TOKHIT, a blockchain-driven game-based social media application, announced the completion of a financing of US $100 million, but the company di…

TOKHIT Raises $100 Million for Blockchain-Driven Social Media App, Plans to Expand into NFT and Digital Asset Trading

On February 13, TOKHIT, a blockchain-driven game-based social media application, announced the completion of a financing of US $100 million, but the company did not disclose the investor’s information or the valuation amount after the financing (TOKHIT disclosed the company’s valuation of about US $155 million at the beginning of 2022). The TOKHIT platform can help content creators and NFT/cryptocurrency lovers make profits through social activities. Andrei Ureche, its co-founder, said that the platform will also provide NFT and digital asset trading, NFT pledge and other services in the future, so that users can find more opportunities to cooperate with brands to gain incentives. （romania-insider）

TOKHIT, a blockchain game-based social media application, completed a $100 million financing

Interpretation of the news:


TOKHIT, a blockchain-driven game-based social media app, announced on February 13 that it had raised $100 million in financing. While the company did not disclose the identity of its investors, it revealed that the funding would enable it to expand its offering to include NFT and digital asset trading. The TOKHIT platform is designed to provide content creators and users with a means of generating profits through social activities, marking a shift in the traditional models of social media monetization.

For obvious reasons, the company has not revealed its valuation amount after its latest funding. However, it did disclose that earlier this year, in January 2022, its valuation stood at nearly $155 million. This valuation implies a significant increase in the company’s worth within a short span of time, underscoring the value that investors see in the unique approach TOKHIT takes to social media.

Andrei Ureche, the co-founder of TOKHIT, said that the platform aims to enhance user experiences by providing NFT and digital asset trading capabilities. This will enable users to find more opportunities to collaborate with brands and gain incentives for their social media engagement. Thus, the expansion of the TOKHIT platform into tradeable digital assets will unlock new revenue streams for both the platform and its users.

The TOKHIT platform operates by rewarding users for creating and sharing content across its network of social media games. Users can profit from their social activities through rewards, digital tokens, and other incentives. The platform’s use of blockchain technology ensures secure and transparent transactions, protecting user earnings from tampering and fraud.

In conclusion, TOKHIT’s $100 million funding round marks a significant achievement for the platform as it seeks to expand into the rapidly growing field of digital assets and NFTs. By providing users with innovative monetization opportunities through blockchain technology, TOKHIT offers a unique value proposition in the social media space. As the company continues to grow, it will be interesting to see how it leverages its resources to drive user engagement and profitability.

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