Taki, a global token-powered social network, slated to launch in India next month, has raised $3.45M through 11 marquee global investors. The round saw participation from key crypto exchanges and investors like CoinDCX, Coinbase Ventures, FTX, OKX Blockdream Ventures, Solana Ventures, Formless Capital, Gemini Frontier Fund, Luno Expeditions, Huobi Ventures, Kraken Ventures, and Roka Works, reflecting their confidence in the platform and unique proposition that Taki team brings as it plans to enter India.
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. These funds will further be extended towards product designing, engineering, Go-To-Market activities, General and Administrative (legal, finance), partnerships, community building and more.
Commenting on the announcement, Sakina Arsiwala, Co-Founder, 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 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. Incubated at SuperLayer, Taki received product design advice and networking support prior to the project’s independent spin-out and launch. 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 makes Taki more accessible to communities at a global scale. To make the platform more inclusive to established and emerging communities, Taki has set up a 2.5 million USD creator fund to bring content creators to Taki who can drive a high level of awareness and enhance overall user engagement for the platform.
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 simply 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.
The platform allows users to earn in two ways, one through the crypto token $TAKI, and the second through individual user coins for every user ($UCOIN). In both ways, a user can earn by creating content that other users enjoy, or even by pursuing a basic level of engagement activities such as commenting on and liking the posts. It also allows existing users to buy a particular creator’s user coins at the initial stages and remain part of that community and enjoy appreciation of token as the community grows—leading to a creation and growth one`s personal economy on the Taki platform
The community token sale of $TAKI by the TAKI DAO is anticipated in the late April 2022 with the goal to enable broader distribution of $TAKI and promote awareness of the Taki project.
Extending his thoughts, 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.”