The anonymous team behind tomiNET, a DAO-led, unmonitored alternative to the internet, has raised $40 million in a funding round led by DWF Labs.
TomiNet Raises $40M to Build a Decentralized Internet Alternative
Among the participants in the round were Ticker Capital, Piha Equities, Japanese Cryptokit, and community leader Hirokado Koji, as well as other private investors. The funds will be used to attract leading publishers and further develop the network. The purpose of the modern internet was to provide consumers with uncensored and unrestricted access to knowledge and freedom of expression.
However, now the internet is succumbed to government and corporate surveillance and censorship. While some alternatives to the mainstream Internet protect users’ privacy and access to uncensored information, “dark web” networks ultimately foster illegal activity.
TomiNET is a platform that promotes free speech and access to uncensored information. The team will use the funds to facilitate onboarding to its network of reputable content creators and publishers, giving users secure access to high-quality content. The team is also developing a fairer monetization plan that allows creators to focus on the content itself while avoiding distracting sponsor mentions and commercials.
Community-driven tomiDAO manages alternative networks , which votes on anything from code changes to censoring content that doesn’t follow the network’s community guidelines. DAO rejects content related to terrorism, child pornography, and other forms of violence.
“We are excited about the future of tomi and its decentralized internet Web3 products that promote privacy and user control,” says Eugene Ng of DWF Labs.
“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,” says Hirokado Kohji.
Ticker Capital believes tomiNET has great potential to attract top-level content creators and publishers. Led by an anonymous team of eight crypto veterans, tomiNET leverages DAO governance to foster a community that censors illegal activity on the Internet.
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