Tomi, a decentralized autonomous organization (DAO) with the goal of creating an alternative internet network, has raised $40 million in funding led by DWF Labs, a digital asset market maker. Tomi intends to establish a new internet that promotes freedom of speech and provides access to uncensored information using its DAO governance model.
The tomi DAO, which is governed by holders of its native crypto token, will be responsible for making decisions regarding the network. The funds raised will be utilized to attract content creators to the platform. According to DWF Labs Managing Partner Andrei Grachev, tomi's DAO-governed alternative network offers a censorship-free environment that guarantees privacy, making it an attractive destination for content creators and users. DWF Labs has invested in various Web3 projects, including Orbs Network and Synthetix, with this funding round.