August 24, 2023

Singaporean Web3 Startup ZTX Raises $13 Mln in Seed Round

ZTX Startup

ZTX Startup

Singapore’s Web3 virtual world and creator platform ZTX received $13 million in funding from a seed round led by Jump Crypto.

Other notable investors included Collab+Currency, Parataxis, MZ Web3 Fund, and Everest Ventures Group. ZTX expressed gratitude for investors’ trust in their project, noting that it reflects the market’s recognition of their significant potential in the Web3 space and the team’s unique advantages. These advantages include the more than 400 million lifetime users attracted by their legacy Web2 business, ZEPETO.

ZEPETO is the world’s fourth-largest metaverse platform, with hundreds of active strategic partnerships ranging from Gucci and Starbucks to K-Pop girl group Blackpink. According to the statement, ZTX plans to build on these existing resources to contribute to global audiences’ wider adoption of Web3.

ZTX’s team includes senior veterans from Apple, Roblox, Epic, EA, and other Web2 giants and seasoned builders from Cosmos, Flow, Solana, and different notable Web3 ecosystems. They aim to advance the Web3 infrastructure for creators in 3D, immersive environments.

Co-Chief Executive Officer of ZTX, Chris Jang, emphasized their commitment to providing an infrastructure layer to creators, stating that their token launch is coming up in the next few months.

Meanwhile, General Partner of MZ Web3 Fund Yuki Kanayama believed that ZTX has the potential to create a unique world that distinguishes it from all other Web3 metaverse projects.

ZTX is a relatively new player in the Web3 industry, founded in 2022 through a collaboration between Jump Crypto and ZEPETO. However, the platform is making significant strides in developing its product and making a mark in the industry. Currently, ZTX has launched Playtest, a private beta version of its upcoming 3D metaverse platform accessible only through invitation.

ZTX has partnered with Dust Labs, a well-known Web3 start-up, to develop ZTX Partner Wearables. This collaboration will provide the necessary tools for creating 3D assets that can be utilized in 3D open-world metaverses. Dust Labs also provided the technology for the y00ts and DeGods digital collections.

Furthermore, ZTX will soon launch its first Genesis Home Mint, where 4,000 original 3D metaverse homes based on ZTX will be available for sale.

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