The TABOO Token is designed as a master benefit token to help each user of the platform to get the most benefit out of using the Services.
TABOO, an adult entertainment platform, has raised $10 million in funding as it seeks to expand its service offerings using the power of blockchain technology. According to a press release shared with Coinspeaker, TABOO is now valued at $250 million following the funding round.
According to the announcement, the TABOO financing round was led by a private family office headed by a former senior executive from US multinational investment banking giant JPMorgan Chase & Co (NYSE: JPM). The funding will serve multiple purposes in helping to reposition TABOO as the high-growth platform it was built for.
The cash injection will be specifically paid to promote the growth of the platform, improve its products, and enhance security measures. In addition, it will be used to enhance marketing efforts and pursue strategic acquisitions that can help expand the adult content platform’s brand.
Blockchain technology can be used to revitalize any industry which is a fact proven by the many innovative decentralized applications launched over the past few years. TABOO was designed to take care of the industry less hacked in Web 3.0.
As a content creation platform, TABOO uses blockchain and Non-Fungible Tokens (NFT) to redefine organization and distribution. With the right capital base that it is now proud of, TABOO will explore new innovations that will help it expand its global market share while competing favorably.
The investor backing of the digital currency and the project is an acknowledgment of the unique fundamentals driving the platform which also translates into viable share in a protocol that has a ready market.
“We are excited to partner with TABOO and support their growth in the adult entertainment industry. “We see tremendous value in the platform and the doors that will open for TABOO to be listed on all major stock exchanges and create a global legacy,” said a spokesperson for the family office.
TABOO Funding: Payment to Token
The TABOO Token is designed as a master benefit token to help each user of the platform to get the most benefit out of using the Services. TABOO as a digital currency is set to benefit further from the funding round as the publicity provided by the capital raise has made it gain more popularity among Web 3.0 users.
While it remains one of the altcoins that was well-beaten by the crypto winter, having touched a soaring valuation of $600 million at its peak, investors can rest assured of the stability and long-term growth prospects for the digital currency. With its target market and unending demand for its products, the founding team is optimistic that the project can live up to its long-term expectations.
“We are delighted to have secured this financing, which will enable us to take TABOO to the next level,” said James, CEO of TABOO. “We believe that blockchain and NFTs are the future of adult entertainment, and we are determined to lead the way. This investment allows us to do just that.” Quite and become a household name.”
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and innovations to drive public acceptance and global integration of the emerging technology. His desires to educate people about cryptocurrencies have inspired his contributions to popular blockchain-based media and websites. Benjamin Godfrey is a fan of sports and farming.