Altcoin Web3 Explodes 140% This Week After Raising $40,000,000
This week, a web3 altcoin that isn’t getting much attention rose to a new all-time high after a new $40 million funding round.
Last week, Tomi (TOMI) was trading at $1.36. On Friday morning, it hit a new all-time high of $5.18.
Since then, the 205th crypto asset by market cap has dropped to $3.25, but it is still up more than 138% in the past week. TOMI has also gone up by more than 42% in the last day.
The anonymous team working on Tomi has made a project called tomiNET, which calls itself a “DAO-governed, surveillance-free alternative to the World Wide Web.”
A press release from the company says that DWF Labs, which makes a market for digital assets, led a new fundraising round that brought in $40 million for the project. There are also private investors and the investment firms Ticker Capital and Piha Equities, as well as the Japanese crypto whale Hirokado Kohji.
Says Kohji,
“As an investor, my focus is not only on providing financial support, but also fostering growth and expansion in the Asian market. With that in mind, I am committed to working with Tomi to ensure its success and wider adoption in this region.”
TomiNET says that its main goals are freedom of speech and access to information that has not been censored.
“The team will leverage the funds to facilitate the onboarding of big-name content creators and publishers to the network, ensuring users have secure access to high-quality content. The team is also developing a fairer monetization plan that will help creators focus on the content itself while staying away from distracting sponsorship mentions and ad breaks.”
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