- GEM Digital Limited has dedicated $50 million to SoMee by means of a token subscription facility.
- The blockchain-based social media platform will use the investment to extend the liquidity of native token $SME
- SoMee customers earn token rewards in $SME and Hive blockchain’s $HIVE after they like or publish on the community.
SoMee.Social, a blockchain agnostic social media platform powered by HIVE blockchain expertise, has secured a $50 million investment dedication from Bahamas-based digital asset investment agency GEM Digital Limited.
Liquidity for native token $SME
An announcement by the platform on Friday stated that the investment group’s backing was being offered via a Token Subscription Facility, which SoMee will channel into fueling liquidity for its HIVE-backed native token $SME.
SoMee additionally plans to leverage the investment to drive additional development for its SoMee.Social community, together with incentivising customers. In this, SoMee customers have entry to US dollar-denominated earnings that replicate their rewards in $SME and $HIVE tokens.
Network customers earn these tokens from posting content material or “liking” posts by different customers. The incentives apply to all customers throughout SoMee and all HIVE-based purposes tapped into the social media channel’s posting knowledge.
SoMee, which obtained startup grants from Amazon Web Services (AWS) and IBM, will formally be out there within the Apple and Google app shops by early September. The platform is already accessible via net at SoMee.Social.