[Funding alert] Token-based social networking startup Taki raises $3.45M, rolls out Engage To Earn feature

Taki, a social network startup, announced on Thursday that it has secured $3.45M in the funding round and the firm intends to use the funds raised to expand its team and enhance its operations.

In the seed funding round, crypto venture capitalist firms and investors including Coinbase Ventures, FTX Exchange, OKX Blockdream Ventures, Solana Ventures, Formless Capital, Gemini Frontier Fund, Luno Expeditions, Huobi Ventures, Kraken Ventures, and Roka Works were part of the round.

Taki was founded by Sakina Arsiwala and Kevin Chou, and the social networking platform aims to create a platform for artists, users, and crypto enthusiasts. The platform enables users to earn money by sharing content on the network and are rewarded with crypto tokens rather than likes or comments.

Sakina Arsiwala, Co-founder of Taki, said, “Taki is a work of passion and an amalgamation of vision to bring a new dimension and meaning for social content consumption. We are glad that our investors see a great scope for expanding personal economy space with the power of crypto tokens. 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 portfol

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"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."

The startup is also introducing the concept of user coins ($UCOIN), and users can either earn through the crypto token $TAKI, or individual user coins ($UCOIN).

Kevin Chou, Managing Partner at SuperLayer, said, “It is heartening to witness such a positive start towards an affirmative beginning. Extending our heartfelt gratitude to all our investors who trusted in our vision and aiding us towards making it a reality. Taki’s journey towards success will always be incomplete without their support.”

The platform is currently invite-only, but users can join the waitlist and follow the project on Twitter until public access is available.

Prior to this, the company has received product design help and networking support from the crypto venture, SuperLayer. The crypto firm has also set aside a $2.5 million fund to enroll content creators and promote better platform engagement.