EMB: April 9, 16:00 UTC

A blockchain-based startup in London said it closed a $50 million funding round to forward its goal of "reinventing social media."

Wunder.Social raised the funds in a round led by Rollman Management, according to an announcement shared with CoinDesk on Wednesday.

The project uses blockchain technology to verify users, thereby eliminating bots, and shares advertising revenue with users, allowing them to fund causes they care about, Wunder.Social said in the announcement.

A token offer is planned for later this month, with interested potential users signing up on the company's website.

The project also said that the former head of marketing at TikTok, Ryan Martin, joined Wunder.Social as chief marketing officer.

Read More: Decentralized Social Media Firm Lens Eyes Massive Scale-Up

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