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November 06, 2014, 05:56:28 PM |
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The team behind dogetipbot, the popular tipping tool for the alternative digital currency dogecoin, has raised nearly $500,000 in a seed funding round.
The fundraising was led by Blackbird Ventures, a venture capital group based in Sydney, Australia. Additional investors, including angel investors Scott and Cyan Banister, also took part in the round. In total, $445,000 in new capital was raised for the project.
Dogetipbot enables microtipping, allowing users of its service to pledge dogecoin tips that can then be redeemed for the currency. Users can tap dogetipbot when pledging money on Reddit, Twitter and Twitch. To date, the service says it has processed more than 650,000 transactions.
CoinDesk spoke with Blackbird Ventures managing director Niki Scevak, who said that he and his team are interested in how digital currencies can be leveraged to make microtransactions economically viable.
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