Web3 Social Platform SO-COL Secures $4.5 Million in Latest Financing Round

It is reported that the Web3 social platform SO-COL founded by Irene Zhao has completed a new round of financing of US $4.5 million, which is fully supported by DWF Labs. Earlier, Web3 social platform SO-COL announced the completion of a $1.75 million seed round financing led by DeFiance Capital and Animoca Brands in February last year. This platform is a social platform that helps creators publish NFTs, and is committed to creating a decentralized alternative to Discord, Snapshot, and OnlyFans.

Web3 social platform SO-COL completed a $4.5 million financing

Web3 social platform SO-COL has recently announced that it has completed a new financing round, which is fully supported by DWF Labs. The company managed to raise $4.5 million in funds, which is a significant increase from the $1.75 million seed round financing that it secured last year.

What is SO-COL and How Does it Work?

SO-COL is a social platform that helps creators publish their non-fungible tokens (NFTs). The platform is fully decentralized and aims to provide an alternative to popular social networking sites such as Discord, Snapshot, and OnlyFans. The platform’s decentralized nature ensures that creators have full control over their content and can monetize their creations without the fear of censorship.

The Latest Financing Round

The $4.5 million financing round was fully supported by DWF Labs, a distributed ledger technology (DLT) acceleration platform. The funds raised will be used to drive SO-COL’s mission of enabling creators to benefit from the rapidly growing NFT market.

Positive Impact on the NFT Market

SO-COL’s emphasis on decentralization and NFTs has had a positive impact on the NFT market. The platform’s user base has grown consistently since its launch, and its focus on decentralization has attracted a lot of attention from the blockchain community.

Future Plans

SO-COL plans to use the funds raised to broaden its platform’s capabilities, including enhancing its user experience and incorporating new features that will enable creators to monetize their content more effectively. The company’s goal is to become the go-to platform for creators looking to publish their NFTs in a decentralized environment.

Conclusion

SO-COL’s recent financing round, which raised $4.5 million, is a testament to the platform’s growing influence within the NFT market. The company’s focus on decentralization and providing creators with full control over their content has resulted in significant growth in its user base. With the new funds raised, SO-COL is poised to broaden the capabilities of its platform and become a dominant force in the NFT market.

FAQs

**Q:** What is SO-COL, and how does it work?
**A:** SO-COL is a decentralized social platform that helps creators publish non-fungible tokens (NFTs) and monetize their content without the fear of censorship.
**Q:** Who funded SO-COL’s latest financing round?
**A:** SO-COL’s latest financing round was fully supported by DWF Labs, a distributed ledger technology (DLT) acceleration platform.
**Q:** What are SO-COL’s plans for the future?
**A:** SO-COL intends to use the funds raised to expand its platform’s capabilities and become the main platform for creators looking to publish their NFTs in a decentralized environment.