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.
"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.
