GEM Digital backs SoMee via $50M investment facility

• GEM Digital Limited has committed $50 million to SoMee through the Token Subscription Facility.
• A blockchain-based social media platform uses investments to increase the liquidity of its native token $SME.
• SoMee users earn token rewards in $SME and $HIVE on the Hive blockchain for liking or posting on the network.

SoMee.Social, a blockchain-agnostic social media platform powered by HIVE blockchain technology, has secured a $50 million investment commitment from Bahamas-based digital asset investment firm GEM Digital Limited.

Liquidity of Native Token $SME

Ann publication The investment group’s backing is being provided via a token subscription facility, and SoMee will be used to facilitate liquidity for the HIVE-backed native token $SME, according to the platform on Friday.

SoMee also plans to leverage this investment to drive further growth of the SoMee.Social network, including incentivizing users. This will give SoMee users access to USD denominated earnings reflecting rewards in $SME and $HIVE tokens.

Network users earn these tokens by posting content and liking other users’ posts. The incentive applies to all SoMee users and all HIVE-based applications that utilize social media channel post data.

Having received startup grants from Amazon Web Services (AWS) and IBM, SoMee will be officially available in Apple and Google’s app stores by early September. The platform is already accessible via the web at SoMee.Social.