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ZTX raises $13M for Web3 virtual world and creator platform
15.08.2023 - 17:31 / venturebeat.com
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ZTX has raised $13 million in seed funding for its Web3 virtual world and creator platform.
The strong investor interest in ZTX reflects the market’s recognition of the project’s potential within the web3 space, the company said.
ZTX said one of its key advantages is the legacy of its Web2 business, Zepeto, which has attracted over 400 million lifetime users. Zepeto is currently the fourth largest metaverse platform in the world, trailing only Roblox, Fortnite, and Minecraft, ZTX said.
It has also established strategic partnerships with prominent brands like Gucci, Starbucks, and the K-Pop girl group Blackpink.
Jump Crypto, an investor in the crypto space, led the round. Other participants included Collab+Currency, Parataxis, MZ Web3 Fund, Everest Ventures Group, and several others.
The ZTX team plans to leverage its existing resources, including its extensive user base and partnerships, to drive the adoption of web3 technology among global audiences. The team comprises seasoned professionals from renowned companies such as Apple, Roblox, Epic, EA, as well as experts from web3 ecosystems like Cosmos, Flow, and Solana.
“We’re excited to share news about our fundraising round,” said Chris Jang, the Co-CEO of ZTX, in a statement. “We have been building steadily and discreetly for well over a year, and with our token launch happening in the coming months we want to emphasize the commitment that our investors, just like our team, have toward our vision to provide an infrastructure layer to creators.”
Yuki Kanayama, general partner at MZ Web3 Fund, praised ZTX for its potential to create a unique metaverse project. The integration of digital asset creation and trading with web3 technology is a natural fit that sets ZTX apart, he said.
“As a crypto-focused venture fund, we back visionary teams who are using decentralized technology to shape the next wave of consumer products,” said Stephen MKeon, partner at Collab+Currency, in a statement. “We’re thrilled to be part of this round, supporting ZTX’s exceptional team and their unique advantages. ZTX can provide a distinct infrastructure layer for diverse NFT projects and web3 builders with its creator-focused tooling, and we look forward to helping ZTX succeed in its ambitious mission.”
Established in 2022, ZTX is a collaboration between Jump Crypto and Zepeto. Over the past year, the company has been actively developing its ecosystem.
Recently, ZTX introduced a private beta test of its upcoming 3D open-world platform called
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