tomi secures $40M in a funding round led by DWF Labs for its alternative internet
The anonymous team behind tomiNET, a DAO-governed, surveillance-free alternative to the World Wide Web, has raised $40 million in a funding round led by DWF Labs. Ticker Capital, Piha Equities, Japanese crypto whale and community leader Hirokado Kohji, and additional private investors also participated in the round. The funds will be used to attract top-tier publishers and further develop the network.
The goal of the modern internet was to provide consumers with uncensored and limitless access to knowledge and freedom of expression. However, the world wide web has succumbed to government and corporate surveillance and censorship. While some alternatives to the mainstream internet protect user privacy and access to uncensored information, “dark web” networks end up fostering illicit activities.
tomiNET is a clean slate for the internet that promotes freedom of speech and access to uncensored information. 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.
The community-led tomiDAO governs the alternative network and votes on proposals about everything, ranging from code alterations to censoring content that doesn’t meet the network’s community guidelines. The DAO votes down content related to terror, child porn, 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 sees great potential for tomiNET to attract top-tier content creators and publishers.
Led by an anonymous group of eight senior crypto veterans, tomiNET leverages DAO governance to foster community-driven censorship of illicit activities on the internet.