Irene Zhao's SO-COL to Raise Funds at US$100 Million Valuation

SO-COL aims to assist creators with a wide variety of NFT-based projects


Teckwai Saw

11 May, 2022

Irene Zhao's SO-COL to Raise Funds at US$100 Million Valuation | BEAMSTART News

Social Collectables (SO-COL), the startup co-founded by Singapore-based Instagram influencer Irene Zhao, is raising fresh funds in a round led by Blockchain Capital.

The value of the round is estimated at US$100 million, according to a reported source.

The size of the round is yet to be determined as discussions with investors are still ongoing.

Community Q&A

"We are helping all the creators and influencers who are completely web2 get into web3 by giving them a very simple user interface," Zhao said.

Zhao, the person behind IreneDAO, an NFT collection of digital stickers — depicting Zhao in various poses accompanied by crypto catchphrases — have raised over US$5 million within 10 days of its launch.

Background of SO-COL

  • The startup was founded by Zhao and Benjamin Tang early this year.
  • Zhao claimed that the IreneDAO project was a proof of concept for the SO-COL platform.
  • SO-COL's mission is to make web3 accessible, affordable and more eco-friendly for everyone.
  • The startup closed US$1.75 million in a seed round co-led by DeFiance Capital and Animoca Brands during February this year.
  • SO-COL is yet to officially launch, but Zhao mentioned that could change in the next month.

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