taki: Social network Taki raises $3.45 million through seed fundraiser

Synopsis

Taki is built on the Solana Blockchain – with support from the Solana Foundation – which allows Taki to provide fast and inexpensive transactions with low environmental impact, and making it accessible to communities at a global scale.

New Delhi: The social network Taki has raised $3.45 million through 11 marquee global investors. The token-powered platform is slated to launch in India next month.

Crypto exchanges including CoinDCX, Coinbase Ventures, FTX, OKX Blockdream, Solana Ventures, Formless Capital, Gemini Frontier Fund, Luno Expeditions, Huobi Ventures, Kraken Ventures and Roka Works participated in the round.

With the investment raised via seed funding, Taki plans to accelerate its product and technological development in the crucial operations such as proactive team building, hiring talent across functions and marketing activities.
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Taki is built on the Solana Blockchain – with support from the Solana Foundation – which allows Taki to provide fast and inexpensive transactions with low environmental impact, and making it accessible to communities at a global scale.

Some of the funds will be extended towards product designing, engineering, Go-To-Market activities, General and Administrative (legal, finance), partnerships, community building.

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

Taki is a work of passion and an amalgamation of vision to bring a new dimension and meaning for social content consumption, said Sakina Arsiwala, Co-Founder, Taki.

“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,” she added.

Taki is a ‘EngageToEarn’ product and integrates user coins with social media features to incentivize and reward activities that benefit the Taki community.

To make the platform more inclusive to established and emerging communities, Taki said it has set up a $2.5 million creator fund to bring content creators to Taki who can drive awareness and enhance user engagement for the platform.

The community token sale of $TAKI by the TAKI DAO is anticipated in late April 2022 with the goal to enable broader distribution of $TAKI and promote awareness of the Taki project.

Users earn $TAKI, a crypto token, by creating content that other users enjoy, and by commenting on and liking posts. Taki also allows users to create their user coin to build their individual economy on the platform.

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Updated: 04/07/2022 — 05:00