HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Internet Celebrities Lead $5M Investment In Bitcoin Reward Program Lolli

Bitcoin 2021/03/25 02:00 by Tony Spilotro

Lolli, a BTC-back Bitcoin rewards program, has just completed a a $5M pre-Series A funding round, backed by a variety of popular internet celebrities and influencers.

Here’s more on what names are behind the $5 million in investment, and how Lolli has grown since its inception.

Internet Celebrities, Alex Ohanian and Serena Williams, Invest $5M In Bitcoin Rewards Firm

Bitcoin rewards company Lolli just revealed it has successfully raised $5 million in funding as part of a pre-Series A funding round with a notable list of investors.

Of 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 join other early investors such as Ashton Kutcher and Michelle Phan.

Related Reading | This Bitcoin Metric Says The Top Is Still 350% Away

These investors have become involved through their respective firms, Serena Ventures, her husband’s Seven Seven Six, and Mr. Beast management company Night Media, who are building into the future of Lolli alongside Digital Currency Group and others.

Lolli co-founder Alex Adelman says the company has issued more than $3 million in Bitcoin rewards to date, ranging around an average of 7% BTC-back rewards at a growing list of major retailers.

bitcoin lolli

Bitcoin has grown significantly, but these bullish factors could fuel another leg higher | Source: BTCUSD on TradingView.com

Top Lolli Users Earn 2 BTC, More Than $3 Million In Rewards Combined

Lolli boasts more than 250,000 users who can earn BTC back on 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’s inception.

Related Reading | Bitcoin Technicals Overheated, But Bullish Fundamentals Remain Unfazed

Top users, says the company, have earned as much as 2 BTC. Most have generated enough returns on the BTC they’ve earned, to pay for the original purchases they made in the first place.

The rewards program works through a browser extension for Chrome, Firefox, Brave, and others, letting users know when they’ve landed on a partner that they can earn rewards with. Once Lolli is enabled in-browser, simply complete the transaction, and BTC will eventually be credited to your account.

https://twitter.com/CircaDiem/status/1374714223570

That same account can also be tied to a smartphone app that lets users open a “loot box” for a daily stack of Bitcoin. Granted, these are typically tiny stacks of satoshi – the smallest unit of account of BTC – but there’s an occasional chance to win much larger cryptocurrency surprises.

The company will use the recent funding to build out the mobile app into a full shopping experience, and expand outside of the United States United States. Lolli is free to use, and at only 250,000 users globally, has enormous room to grow.

Featured image from Lolli, Charts from TradingView.com

0 Like(s)



You should also read...

Bitcoin 17/06/20 22:11 by PR DESK
Disappointed by Bitcoin “Bull”? You Can Still Profit on Crypto Market With Bexplus
In the Autumn of 2017, the price of bitcoin began to rise and in December, it reached nearly $20,000. Since then, the bitcoin market has attracted more and more new traders, “hodlers” in particul...
Read More
Bitcoin 16/07/20 22:00 by Tony Spilotro
The Most Common Bitcoin Scams And How To Avoid Them
Yesterday, high-profile Twitter celebrities and other influential accounts were hacked to promote a Bitcoin scam. The scam isn’t uncommon and is just one of many that involve cryptocurrency in s...
Read More
Bitcoin 28/09/20 00:00 by Cole Petersen
Here are 3 Factors That Suggest Bitcoin is Poised for a Serious Push Higher
Bitcoin’s price action has been flashing mixed signals to investors, as its price has been caught within a wide trading range between $10,200 and $11,200 as buyers and sellers battle for control of ...
Read More
Other 12/11/20 22:00 by Cole Petersen
Yearn.finance (YFI) Tests Key Support as Funding Rates Flip Negative
Yearn.finance’s YFI token has been facing some intense selling pressure today as the focus shifts back to Bitcoin. YFI and other blue-chip DeFi tokens have posted some massive gains throughout t...
Read More
Bitcoin 10/05/21 00:24 by Reynaldo Marquez
Bitcoin Moves Sideways, But Looks Set For A Moon Week
Bitcoin re-tested resistance on its way up to $60,000 and was pushed back to support. At the time of writing, BTC trades at $57,500 with sideway movement in the lower and higher timeframes. BTC is mov...
Read More