Ethereum expansion project Scroll completed financing of US $50 million

It is reported that the Ethereum expansion project Scroll announced that it had raised $50 million in a new round of financing. Investors in this round of financing include Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures and Qiming Venture Capital. According to people familiar with the matter, this round of financing makes Scroll’s valuation reach $1.8 billion.

Interpretation of this information:

The Ethereum expansion project, Scroll, has announced a successful funding round that sees the startup raise $50 million in investment. The round was participated by reputable investors in the industry such as Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, Newman Capital, IOSG Ventures, and Qiming Venture Capital. The funding will go towards scaling up Scroll’s decentralized platform, which is aimed at creating a peer-to-peer ecosystem for online content creators and their followers.

Scroll is based on blockchain technology with a focus on providing a new monetization model for content creators. The idea is to use Scroll’s platform to help content creators secure and distribute their work globally while enabling fair compensation for their efforts. The platform offers an innovative way for content creators to monetize their content without relying on traditional advertising or sponsorship models. Instead, followers of the creators can subscribe to ‘scrolls’ (bundles of content) by paying a monthly subscription fee, which gets distributed based on the creators’ contributions.

With the new funding, Scroll is now valued at $1.8 billion, which is no mean feat considering how young the platform is. The successful funding round indicates the confidence that investors have in the potential of Scroll’s vision. The startup has already made significant strides in bringing its vision to life, but there is still much more work to be done. The company’s founders believe that the new funding will be critical to scaling up the platform’s capabilities, exploring new markets, and attracting more creators and followers to the platform.

In conclusion, Scroll’s successful funding round is a significant milestone for the company, indicating solid investor interest in the project’s potential. The new capital injection will enable Scroll to develop its platform further and potentially disrupt the content creation industry. The platform’s unique revenue model offers an innovative way for content creators to monetize their content, which could go a long way in increasing overall industry revenue. It will be exciting to see what Scroll’s team accomplishes with the new funding in the coming years.