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    HomeBlockchainGEM Digital backs SoMee via $50M investment facility

    GEM Digital backs SoMee via $50M investment facility


    • GEM Digital Restricted has dedicated $50 million to SoMee by a token subscription facility.
    • The blockchain-based social media platform will use the funding to extend the liquidity of native token $SME
    • SoMee customers earn token rewards in $SME and Hive blockchain’s $HIVE once they like or submit on the community.

    SoMee.Social, a blockchain agnostic social media platform powered by HIVE blockchain expertise, has secured a $50 million funding dedication from Bahamas-based digital asset funding agency GEM Digital Restricted.

    Liquidity for native token $SME

    An announcement by the platform on Friday mentioned that the funding group’s backing was being offered through a Token Subscription Facility, which SoMee will channel into fueling liquidity for its HIVE-backed native token $SME.

    SoMee additionally plans to leverage the funding to drive additional development for its SoMee.Social community, together with incentivising customers. On this, SoMee customers have entry to US dollar-denominated earnings that mirror their rewards in $SME and $HIVE tokens. 

    Community 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 functions tapped into the social media channel’s posting knowledge.

    SoMee, which acquired startup grants from Amazon Internet Companies (AWS) and IBM, will formally be obtainable within the Apple and Google app shops by early September. The platform is already accessible through internet at SoMee.Social.

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