Earlier this month, ReelStar app launched the Initial Token Offering of ReelToken (REELT) with an aim to raise $5 million. ReelToken is based on a multi-blockchain platform. It uses Polygon Binance Smart Chain. The company has now confirmed that it has raised over $5 million from the ITO.
ReelToken has a total supply of 15 billion tokens. After raising $5 million from the ITO, the company aims to further raise $31.275 Million with a public offering.
The company also recently held an event ReelTalk in Melbourne, Australia. The event was also attended by former Indian cricketer, Irfan Pathan. At the event, the company revealed the logos of ReelStar, ReelToken & ReelPay.
Speaking, at the event, after a successful ITO, Co-Founder, Navdeep Sharma, said, “ReelStar aims to energize and reinvigorate the global media and entertainment industry. Our app will provide a global platform for creators thereby enabling a positive network of communities that inspire connection, collaboration, and inclusion. Our UVP lies in our seamlessness and our easy-to-use platform that is accessible to almost everyone to create, collect, trade, and monetize an exciting array of NFTs and User Generated Content.”
ReelStar app claims to be an ‘Everything app’ with the integration of social media platforms, video sharing, peer-to-peer chat, audio calls, video calls, live streaming, NFT minting, and NFT marketplace. The app also has a Digital Wallet. Users securely hold REELT and exchange it for fiat or other cryptocurrencies.
ReelStar claims to be a Web3-integrated social media platform with a vision to democratize access to Web3, metaverse, and future technologies.