A startup SO-COL co-founded by influencer Irene Zhao is raising fresh funding in a private round headlined by Blockchain Capital.
Zhao’s SO-COL aims to “supercharge” influencer production with NFTs at $100 million, the people familiar with the matter said. Zhao revealed these details in an interview and explained that the exact size of the cycle is yet to be decided, as discussions with investors are proceeding.
“We’re helping all creators and influencers who are completely web2 into web3 by giving them a very simple user interface. They can actually use their Apple Wallet, any wallet they have, to buy anything on our platform” she said.
The Instagram model and entrepreneur, Zhao, described how NFTs could be utilized to monetize social media when she dropped her NFT collection, IreneDAO, earlier this year. About 2,600 Ether (Approximately $6.5 Million) of digital stickers, showing Zhao in different poses alongside crypto catchphrases have been part of transactions on OpenSea.
The IreneDao project is a proof of concept for the SO-COL platform according to Zhao.
SO-COL was founded by Zhao and co-founder Benjamin Tang, the startup raised a $1.75 million seed round in February this year. Animoca Brands and DeFiance Capital co-led that round, Three Arrows Capital, Mechanism Capital, Global Founders Capital, Double Peak Group, Antifund, Genblock Capital, and Kronos Research also participated.
SO-COL is not officially launched, but Zhao will be changing that probably within the next month. Proceeds from the raise will be used for hiring developers, to continue developing the app, and for its promotion.
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