TOKHIT secures US $100m in funding for blockchain-driven game-based social media platform

02/13/2023 10:38 • Digital Disruptors • 95 views

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

Analysis based on this information:

Blockchain technology continues to drive innovation and disruption across various industries, including social media and gaming. TOKHIT, a game-based social media app, is looking to capitalize on this trend with its blockchain-driven platform that offers content creators and NFT/cryptocurrency enthusiasts a way to profit from social activities. In a recent announcement, the company shared that it has secured US $100 million in funding. However, the investor’s information and the valuation amount after the financing have not been disclosed to the public.

TOKHIT’s platform offers a unique proposition to users by allowing them to leverage blockchain technology to monetize their social media presence. This is achieved through the use of NFTs and cryptocurrencies, which are digital assets stored on a blockchain network. NFTs, in particular, have exploded in popularity in recent years due to their unique characteristics, such as immutability, scarcity, and traceability. By incorporating these digital assets into its platform, TOKHIT aims to create a new paradigm for social media and content creation, where users can be rewarded for their creativity and engagement.

In addition, the company plans to expand its offerings beyond social media and content creation. It will provide NFT and digital asset trading, NFT pledge, and other services to its users, creating more opportunities for them to collaborate with brands and earn incentives. Such a move could establish TOKHIT as a significant player in the emerging crypto-economy, where blockchain-based applications are disrupting traditional models of business and finance.

The financing of US $100 million is a significant vote of confidence in TOKHIT’s vision and potential. The company had already announced a valuation of about US $155 million at the start of the year, indicating that it has attracted significant interest from investors. However, the lack of disclosure regarding the investor’s identity and the valuation amount after the financing leaves room for speculation about the company’s underlying financials.

Overall, TOKHIT’s announcement highlights the growing interest in blockchain technology and its potential to transform social media and gaming. It also underscores the importance of NFTs and cryptocurrencies in this emerging landscape. As more companies like TOKHIT enter the space, we can expect to see increased innovation and disruption in traditional business models, paving the way for a more decentralized and equitable economy.

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