Tuesday, Sep 26 2023 | Time 17:01 Hrs(IST)
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Business EconomyPosted at: Nov 17 2022 6:28PM


ReelStar raises USD 5+ mn from ITO of ReelToken

Mumbai, Nov 17 (UNI) The ReelStar app, India’s most advanced Web3 integrated social media platform said it has raised over USD 5 mn from the Initial Token Offering (ITO) of its utility token ReelToken (REELT). ReelToken is based on a multi-blockchain platform and architecture. It uses the Polygon (MATIC) and Binance Smart Chain (BSC) extensible to multiple blockchain networks.
ReelStar is an ‘everything app’ with integrated multiple social media, Web3 and payment functionalities. It features in-app tailor-made NFT creation features, Smart Contract customisation and an NFT Marketplace in an easy-to-use Android and/or iOS environment. The app provides creators (at any level) with the needed in-app tools and global access to consumers other without requiring large budgets or technical knowledge. This will democratise and level the playing field for User Generated Content (UGC). Best of all every creator can easily monetise their content!
Former Indian cricketer, Irfan Pathan, was just one of the celebrities that graced the event where Navdeep & Nick the Co-Founders of ReelGroup were excited to reveal the logos of ReelStar, ReelToken & ReelPay. The philosophy behind the logo was revealed; the Reel Mark is formed using an alphabet R enclosed in square with 2 sharp edges and 2 rounded edges. The sharp edges stood for the group’s commitment to transparency & fairness while the rounded corners stood for politeness & adaptability to the future world. These all underpin each company’s user-centric values and approach.
Speaking, at the event, after a successful ITO, Co-Founder, Navdeep Sharma, said, “ReelStar aims to energise and reinvigorate the global media and entertainment industry. Our app will provide a global platform for creators thereby enabling a positive network of communities that inspire connection, collaboration and inclusion. Our UVP lies in our seamlessness and our easy-to-use platform that is accessible to almost everyone to create, collect, trade, and monetise an exciting array of NFTs and User Generated Content.''
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Tags: #ReelStar raises USD 5+ mn from ITO of ReelToken
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