- GEM Digital Limited has dedicated $50 million to SoMee by 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 once they like or put up on the community.
SoMee.Social, a blockchain agnostic social media platform powered by HIVE blockchain know-how, 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 supplied 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 progress for its SoMee.Social community, together with incentivising customers. In this, SoMee customers have entry to US dollar-denominated earnings that mirror 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 functions tapped into the social media channel’s posting information.
SoMee, which obtained startup grants from Amazon Web Services (AWS) and IBM, will formally be obtainable within the Apple and Google app shops by early September. The platform is already accessible via internet at SoMee.Social.