Tomo Raises $3.5 Million in Seed Funding Led by Polychain Capital and Announces Tomoji Launchpad and TomoID for a Revamped Social Wallet Experience


Los Angeles, United States, April 10, 2024, Chainwire

The innovative Web3 social platform Tomo partners with industry leaders and reinvents social media monetization and engagement

Tomo, an all-in-one Web3 social app, announces the successful completion of its seed funding round led by Polychain Capital. Investors included industry leaders such as Consensys, Symbolic Capital, OKX Ventures, Nomad Capital, Story Protocol, dao5, KuCoin Ventures and HTX Ventures. With a focus on integrating financial incentives into social media through blockchain, Tomo introduces an evolved social experience with its unique offerings Tomoji – the first of its kind ERC-404 Launchpad on Base – and the multifunctional social wallet TomoID.

Tomo founder Ryan Fang shares the vision and says: “We are excited about the support of our investors, which will enable us to innovate across the SocialFi landscape. Tomo’s mission is to pioneer a multichain Web3 social wallet that unlocks unique blockchain-enabled features.” We strive for a seamless user experience while encouraging new ways to connect, give, and create. Our vision extends to building a platform where every connection is valued, direct and financially rewarding.

To expand its creative horizons, Tomo recently launched the ERC404 Meme Launchpad on the base chain called Tomoji. Artist Sean Kyah Koons, in collaboration with Tomoji, introduced a premium dragon collection called “LONG” on the Tomoji Launchpad. Tomoji enables fractionalization of NFTs, thereby increasing market liquidity and offering a more flexible approach to ownership. Within the Tomoji launchpad, Tomojis offer seamless coining, gifting and trading functionality, providing users with an intuitive and interactive platform for engaging with digital art. In addition, Tomojis can be traded on exchanges.

Tomo then introduces a new feature, TomoID, along with a funding milestone. TomoID is a social wallet for content creators and businesses with a link-in-bio tool and a crypto commission affiliate program. Users can place their unique TomoID in their social media bios and link to a page with their profiles on platforms like Tomo, X, Instagram, TikTok and more. Complementing these innovations, Tomo offers a reward system in the form of Tomo Points, which encourages active use of Tomo features and serves as recognition for the loyalty and contribution of early participants.

Olaf Carlson-Wee, Founder and CEO of Polychain Capital, shared his insights on the investment, noting: “At Polychain, we support founders and projects that enable new behaviors.” Our investment in Tomo is in line with this philosophy as we Recognize Tomo's role in introducing a huge new user base to the Web3 space. Tomo adds financial incentives to the feedback loops already embedded in social media apps, optimizing the distribution of value created at the interface between creators and fans.”

Tomo's application offers accessible onboarding, interactive experiences and earning opportunities. Tomo creates a transparent social capital marketplace where users can engage in authentic and financially rewarding interactions. The platform features a native mobile app for iOS and Android, a web beta, account abstraction technology, self-custody, seamless cross-chain bridging, and easy-to-use fiat onramp features. Signing up is straightforward with options like X, Apple (NASDAQ:), Google (NASDAQ:), and Galxe accounts. Tomo makes it easy to get started on the blockchain by automatically setting up non-custodial wallets using ERC-4337 technology and working on secure Linea and Base rollups. The “Keys” system in Tomo allows users to purchase unique access to creators’ content and direct messages. Transactions using these keys incur a 10% license fee, which is split equally between Tomo and the creators, contributing to a sustainable economy. Other features include public stories for key holders, group chats, direct messages, and easy ETH transfers.

Marco Monaco of ConsenSys commented: “Tomo’s SocialFi strategy is not just another fork in the ‘retention curve’. The team focuses on the social aspect with a clear vision and innovative Web3 native ideas. This investment is not just about the team, but also a tech stack that will serve as a reference implementation for dApps aiming to bring millions to Web3: mobile app, account abstraction, transparent bridging, self-custody, fiat onramp and Collaboration with the Linea ecosystem. “Tomo’s approach represents a significant advancement in dApps design and shows how SocialFi can empower users and developers.”

About Tomo:

Tomo is an all-in-one Web3 social app that turns users' online presence into a universal social wallet, encouraging real, spam-free connections and financial incentives. With Tomo, users can connect directly with artists, participate in private discussions, and explore the new generation of digital art with Tomoji. By actively participating, users receive Tomo points and thus increase their social capital. Join Tomo where your social capital is valued.

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ContactPR managerMilena RepaTomo[email protected]

This article was originally published on Chainwire


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