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bitcoin rewards program Lolli
Nexo Logo

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

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin
Reading Time: 3 mins read
Advertisement

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.

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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.

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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.

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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
Tags: bitcoinbtcbtcusdBTCUSDTcryptoxbtxbtusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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