Social token platform Roll raises $10 million in Series A funding

Roll, a platform that allows users to create their own branded tokens, announced Tuesday that it raised $10 million in Series A funding.

The Hong Kong-based venture firm IOSG Ventures led the round. Other participants include Animoca Brands, Alchemy, Huobi Ventures, Weekend Fund, Audacity, and Mischief Fund. 

Roll allows people with a sizable following to create social tokens. These tokens can then be branded and disseminated as the creator sees fit. For example, a creator named Connie Digital offers his social token $HUE to followers who read his newsletter. Connie Digital’s fans can then spend $HUE on NFTs or to tip on Discord. 

“We're not trying to be Web3 Twitter or Facebook,” Roll CEO Bradley Miles told The Block. “We want to be more of a Stripe for social tokens.”

Roll supports over 350 creators, $2 million daily trading volume, and a year-to-date trading volume of $680 million. With prior funding from Galaxy Interactive, Hustle Fund, Gary Vaynerchuk and other investors, Roll has raised $12.7 million since its 2019 inception.

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.