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Business News/ Companies / Start-ups/  Taki raises $3.45 mn in seed funding from CoinDXC, Coinbase Ventures, others
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Taki raises $3.45 mn in seed funding from CoinDXC, Coinbase Ventures, others

Taki brings a unique engagement platform for creators, users, and crypto enthusiasts, who can earn a daily income by posting content and chatting with others about things that interest them

With this investment, Taki plans to accelerate its product and technological development. (Photo: Mint)Premium
With this investment, Taki plans to accelerate its product and technological development. (Photo: Mint)

NEW DELHI: Taki, a global token-powered social network, has raised $3.45 million from 11 global investors ahead of its India launch next month.

The round saw participation from crypto exchanges and investors such as CoinDCX, Coinbase Ventures, FTX, OKX Blockdream Ventures, Solana Ventures, Formless Capital, Gemini Frontier Fund, Luno Expeditions, Huobi Ventures, Kraken Ventures, and Roka Works.

With this investment, Taki plans to accelerate its product and technological development and overdrive by directing the funds towards crucial operations such as proactive team building, hiring talent across functions and marketing activities.

The company will also expand its presence in other key markets gradually post its India launch and invest in strengthening its creators’ network.

Commenting on the announcement, Sakina Arsiwala, co-founder, Taki, said, “Taki is designed to be a secure, safe and tech superior product that enables social enthusiasts to consume, invest, share, transact and build a token-based content portfolio. Taki is the perfect platform for the creators, who wish to increase their network and enable growth for their fan-base too. The burgeoning creators’ economy is making more meaningful contributions towards the businesses at large across the global markets, and are shaping the way content is getting monetised."

Taki is built with an “EngageToEarn" product design and integrates user coins with social media features to incentivize and reward activities that benefit the Taki community.

The platform is currently invite-only, but users can sign up on the waitlist with public access coming soon, and follow the project on Twitter. Taki brings a unique engagement platform for creators, users, and crypto enthusiasts, who can earn a daily income by posting content and chatting with others about things that interest them.

Taki becomes the first platform to introduce the concept of user coin ($UCOIN). A user coin is a monetary representation of the personal social network, where a user can buy and sell user coins using a $TAKI token. User coins can generate a new source of income for creators who are traditionally reliant on sponsored content deals. It allows users to control their personal economy with a branded coin that they own.

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Published: 07 Apr 2022, 04:42 PM IST
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