Startup SO-COL, co-founded by cryptocurrency phenom Iren Zhao, has raised $100 million in a private funding round. Citing sources, The Block was managed by the Blockchain Capital investment fund.

According to them, the amount is not final – negotiations with investors are ongoing. The funds raised are planned to be directed towards the development of the app, marketing and hiring developers.

In an interview with the publication, Zhao confirmed the fact of fundraising. According to him, startup “helps creators [контента] and Web 2 influencers will transition to Web 3.0 with a simple user interface.”

“They can use Apple Wallets, any wallet they own, to buy anything on our platform,” Zhao said.

According to him, the official release of the platform will take place in the near future.

SO-COL closed a $1.75 million initial funding round in February that included Animoca Brands, DeFiance Capital, Three Arrows Capital, Mechanism Capital, Global Founders Capital, Double Peak Group, Antifund, Genblock Capital and Kronos Research.

We are excited to announce that we have recently raised $1.75 million in seed funding led by him. @AnimocaBrands and @DeFianceKapital empowering creators and their communities. https://t.co/FhwyU5QoXu

— SO-COL 😎 (We’re Hiring) (@socol_io) February 8, 2022

Zhao previously released an NFT collection called IreneDAO. He described the project as a proof-of-concept for SO-COL.

Recall that in June 2021 Blockchain Capital raised $ 300 million for its fifth investment fund. Visa payment system and PayPal company acted as partners.