Update: TOKHIT claims to have secures USD100M from investment fund for further developments

Constantin Macri 09/02/2023 | 11:36

TOKHIT, a gamified social app developed by a Romanian start-up, powered by blockchain and NFT technology where content creators, influencers and NFTS and Crypto enthusiasts can monetize their social activity, claims to have reached an important financing milestone by securing $ 100 M from an international investment fund. Update: The USD 100 mil investment seems highly unlikely as the initial press release did not mention important details such as the name of the fund, the deal structure, or the legal teams and consultants involved.

 

With a declared mission to empower content creators to make a living by following their passion and to disrupt the social media landscape, to change how people interact, have fun, work and make money, TOKHIT has a business model that relies on generating revenues through win-win schemes. The product uses its tokenized economy to empower users to monetize their work while providing multiple income streams for the company.

After a preliminary $100K seed investment and 3 rounds dedicated to token sales, this fresh round of funding worth $100 M is the most significant one and proves TOKHIT’s strong development perspectives.

Capitalization will be conducted through TOKHIT HOLDING Switzerland, part of ODAS Group, which will coordinate all development and promotion activities at global level.

We are happy to announce this $100 M capitalization that confirms the strong growth perspectives for TOKHIT. Funds will be used to fuel further developments of the product on all devices, to strengthen the global reach and international ambitious goals in terms of user conversions and to support the listing on the crypto platforms.

TOKHIT will soon become that social environment where content creators, crypto investors, and NFT enthusiasts generate active and passive revenues by creating content, trading NFTs, staking HITT Tokens, accessing play-to-earn games, staking NFTs, or trading digital assets on the marketplace. As the product matures, they will find additional opportunities to earn monetary rewards by collaborating with brands, while active content creators will also be able to mint personalized coins/tokens and make them available for purchase.

With these resources wisely put at work, we aim to build a robust ecosystem of interconnected digital products that share a common token-based economy, one product at a time”, said Andrei Ureche (Vandy), TOKHIT founder and CEO.

TOHKIT means total freedom of expression, automated financial rewards for users, investment in unique digital creations, NFTs and at the same time a new infrastructure for creative collaborations with brands. The app is already available for download on IOS devices, with upcoming developments to make it available on all platforms.

Targeting a global audience, TOKHIT will respond to current challenges in terms of social platforms, by creating the perfect environment for people who want a more transparent, secure, and immersive digital experience.

Investors and developers bet on TOKHIT capacity to provide an environment where artists and their fans can create digital content with the power to become a valuable asset through native NFTs and Blockchain technology. This will set the foundation for a better community-building system and help everyone involved achieve their goals.

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Constantin Macri | 09/03/2023 | 17:26

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