Lolli, a BTC-sponsored bitcoin rewards program, has just closed a $ 5M Series A funding round, backed by a host of popular internet celebrities and influencers.
Learn more about the names behind the $ 5 million investment and how Lolli has grown since its inception.
Internet celebrities, Alex Ohanian and Serena Williams, are investing $ 5 million in Bitcoin Rewards Firm
Bitcoin premium company Lolli just announced that it successfully raised $ 5 million in funding as part of a pre-Series A funding round with a notable roster of investors.
Among those involved are several internet celebrities, including Reddit co-founder Alexis Ohanian, popular YouTuber Jimmy “MrBeast” Donaldson, Casey Neistat, Philip DeFranco and CodyKo. Other notable figures include Serena Williams, who joins other early investors such as Ashton Kutcher and Michelle Phan.
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These investors have gotten involved through their respective firms, Serena Ventures, Her Husband’s Seven Seven Six, and Mr. Beast Management Company Night Media, who are working with Digital Currency Group and others to build into the future of Lolli.
According to Alex Adelman, co-founder of Lolli, the company has issued more than $ 3 million in bitcoin rewards to date, which is an average of 7% BTC rewards among a growing list of large retailers.
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Top lollipop users earn 2 BTC, more than $ 3 million in rewards combined
Lolli has 250,000+ users who can get BTC back for purchases at retailers like Macy’s, Best Buy, Sephora, Foot Locker, and hundreds of others. These 250,000 users have collectively earned more than $ 3 million in Bitcoin rewards since the program began.
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Top users, according to the company, have earned up to 2 BTC. Most have made enough returns on the BTC they earned to pay for the original purchases they originally made.
The rewards program works through a browser extension for Chrome, Firefox, Brave and others and informs users when they land on a partner with whom they can earn rewards. Once Lolli is activated in the browser, simply complete the transaction and BTC will eventually be added to your account.
The same account can also be linked to a smartphone app that allows users to open a “loot box” for a daily stack of Bitcoin. Granted, these are usually tiny stacks of satoshi – the smallest unit of account of BTC – but there is an occasional chance of winning much bigger surprises with the cryptocurrency.
The company will use the latest funds to expand the mobile app into a full shopping experience and expand outside of the United States. Lolli is free to use and has tremendous room for growth with only 250,000 users worldwide.
Featured image from Lolli, Charts from TradingView.com