22nd March 2023 – (New York) Decentralised autonomous organisation (DAO) Tomi has raised US$40 million in funding led by digital asset market maker DWF Labs. The blockchain-based organisation aims to build an alternative internet network using its DAO governance model, which promotes freedom of speech and access to uncensored information. According to Tomi, the aim is to create a “clean slate for the internet” in contrast to the “government and corporate surveillance and censorship” of the world wide web.
Tomi’s community-led tomiDAO governs the alternative network, allowing holders of its native crypto token to vote on proposals related to the running of the organisation. The funding will be used to attract content creators to the network. With its DAO-governed alternative network, Tomi is paving the way for a censorship-free environment where users can access high-quality content without compromising their privacy.
DWF Labs managing partner Andrei Grachev believes that the team’s commitment to fair monetisation and development of technologies ensuring privacy will make Tomi the go-to destination for content creators and users alike. DWF Labs’ leading of this funding round continues the market maker’s recent flurry of investments in Web3 projects, including multi-million dollar purchases of the native tokens of blockchain infrastructure provider Orbs Network and derivatives protocol Synthetix.
Tomi’s DAO governance model represents a radical shift in the way internet governance is conducted. The community-led approach allows for greater transparency, accountability and inclusivity, with decision-making power distributed among token holders rather than centralised authorities. This approach aligns with the principles of Web3, which seeks to create a decentralised and democratised internet ecosystem.
Tomi’s alternative internet network is designed to promote freedom of speech and access to uncensored information, enabling users to express themselves without fear of censorship or surveillance. This approach represents a fundamental challenge to the status quo, where governments and corporations hold significant power over the internet’s operation and content.
Tomi’s vision for a censorship-free and decentralised internet is gaining momentum, with growing interest from content creators and investors alike. The organisation’s DAO governance model represents a radical departure from the centralised power structures that currently dominate the internet landscape, promising greater transparency, inclusivity and accountability.
As the internet continues to evolve, the emergence of alternative networks like Tomi’s is likely to play an increasingly important role in shaping its future. With its commitment to promoting freedom of speech and access to uncensored information, Tomi is well-positioned to become a leading player in the Web3 ecosystem, representing a powerful alternative to the current centralized model.