• Roll has raised $10 million, Merkle Science has raised $5.75 million, and Avalanche has announced a token sale

  • Roll, a blockchain infrastructure for social money, announced on Tuesday that it has raised $10 million in Series A funding led by IOSG Ventures.

    Animoca Brands, Alchemy, Huobi Ventures Weekend Fund, and Mischief Fund are among those who have invested in Roll. IOSG also joins existing investors Galaxy Interactive, Hustle Fund, Gary Vaynerchuk, Trevor McFederies, Ryan Selkis, and Balaji Srinivasan. Since its inception in 2019, the company has raised a total of $12.7 million in funding.

    Roll is a financial operating system and network for social tokens, which are branded digital currencies that creators can use to “create a market that belongs to them and their audience without the use of third-party intermediaries such as platforms,” according to the company.

    Furthermore, Roll’s network creates branded social tokens that are unique to individuals, allowing them to control and coordinate their value across platforms. Roll’s social tokens can be used to build a social token infrastructure that can interact with web platforms and smart contract applications using Ethereum smart contracts.

    “We’re now at the point where Roll uniquely allows them to mint these social tokens through the Ethereum blockchain; it can be plugged into anything anyone else is building on Web3,” said Bradley Miles, co-founder and CEO of Roll, in an interview with ULTCOIN365.

    Roll now has over 350 creators, up from 100 a year ago, according to Miles. Websites such as OnlyFans and YouTube, as well as NFT artists and celebrities such as Terry Crews, are among the creators. Roll’s social tokens have reached $250 million in market value and over $2 million in daily trading volume in the last month, according to the company.

    “We had really explosive growth last year and this year,” Miles said. “It appears that we are in a cultural bull market… We’re seeing markets expand and demand expand,” he added.

    Kraken Ventures and others contribute to a $5.75 million round.

    Merkle Science, a predictive cryptocurrency risk and intelligence platform, has raised $5.75 million in a Series A round led by Darrow Holdings.

    Kraken Ventures, Uncorrelated Ventures, Fenbushi Capital, Token Bay Capital, Kenetic, and Lunex Ventures are among the other investors in the round, according to the company.

    According to the company, the funding will be used to prioritize product development, expand token coverage, and customize solutions for DeFi and NFT platforms.

    Mriganka Pattnaik, the company’s co-founder and CEO, stated that Merkle Science has seen strong demand from financial institutions and law enforcement agencies “as crypto-related illicit activity and regulations have taken center stage.”

    According to the company, it has clients in Asia, Europe, and North America and has increased its revenue by more than 900 percent in the last two years. “In the last six months, institutional interest in cryptocurrencies and compliance in the United States has increased, prompting both co-founders to relocate their headquarters to New York as part of Merkle Science’s expansion plans,” the company said.

    Token sales abound.

    On Tuesday, Republic Capital, the multi-asset investment platform, announced the participation of a crypto fund managed by Republic Capital in AVAX’s recent $230 million private token sale, alongside previously announced lead investors Polychain and Three Arrows Capital. Although the transaction was completed in June, it was not made public until mid-September.

    According to ULTCOIN365, the Avalanche Foundation plans to use the proceeds to accelerate the rapid growth of DeFi, NFTs, and other new asset classes on the Avalanche blockchain.

    Separately, the Ethereum-based Immutable X token sale sold out in less than an hour, raising more than $12.5 million, according to Immutable, the company behind the token, in a tweet on Monday.

    According to the tweet, Immutable X’s token sale attracted over 720,000 registrants, but only about 3.6 percent, or 25,000, of those registrants were able to become new token holders via CoinList, a platform that showcases digital assets before they are widely available on exchanges.

    Immutable is an Australian company that, among other things, focuses on the first layer 2 for NFTs on Ethereum and allows users to set their own trading fees.

    In mid-September, BITKRAFT Ventures and King River Capital co-led a $60 million Series B round, with participation from Prosus Ventures, Galaxy Interactive, Fabric Ventures, Alameda Research, AirTree Ventures, Reinventure, Apex Capital, and VaynerFund.

    Immutable has not disclosed the purpose of the token sale on Monday. However, following the $60 million in funding, the company stated that it would use the funds primarily to expand its global engineering and sales team, as well as strengthen partnerships with gaming companies.

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