According to TechFlow, Web3 social protocol Tomo has completed a $3.5 million seed round of financing, led by Polychain Capital, with participation from Consensys, Symbolic Capital, OKX Ventures, Nomad Capital, Story Protocol, dao5, KuCoin Ventures and HTX Ventures.
Tomo is a SocialFi app that uses a "Keys" system that allows users to purchase content and direct message access from creators, with community guidelines governing content moderation. Key transactions are displayed in USD but conducted in ETH, with 10% of royalties split equally between Tomo and content creators.
Tomo allows users to create and trade ERC-404 tokens called “Tomojis” — offering fractional ownership compared to traditional NFTs. Tomojis function as collectible digital assets and functional emojis within the app and can also be traded on exchanges.
