In a significant development for the Web3 space, a new decentralized social collaboration network called Zeek has successfully completed a seed funding round, raising $3 million. This capital influx is earmarked for a grand vision – to completely overhaul how social reputation functions in the burgeoning Web3 ecosystem.
Zeek’s initiative has caught the eye of several top investors in the cryptocurrency and blockchain industry. Notably, OKX Ventures, the venture arm of the renowned crypto exchange OKX, along with Animoca Brands, a leader in digital entertainment and blockchain gamification, have shown their support. Additional investment came from the Mask Network Arche Fund, and several prominent figures in the field have contributed to this seed funding round.
Among the enthusiasts backing Zeek’s disruptive idea is Thanh Le, the Founder of Nighty Eight. Le is known for supporting ventures that challenge the status quo and has articulated significant interest in backing innovative founders determined to push the boundaries of the open internet.
Another key supporter, Suji Yan, the Founder & CEO of Mask Network, is particularly optimistic about Zeek’s potential. Yan envisions a decentralized collaboration economy where social networks and individual capabilities can be monetized effectively. He sees Zeek as a spearhead of this futuristic economy, offering novel ways for users to leverage their online presence.
Slated for an official launch in July, Zeek has set its sights on making the verification of identities for Web3 users simpler and more reliable through its on-chain reputation construct. This blockchain-based indicator will allow users to establish and display their reputation within the network credibly.
The core idea behind Zeek is centered on creating social value through what they’ve termed “Wishes.” Users can submit their desires or offers to the network, which then facilitates engagement and collaboration. Contributions and active participation lead to the accrual of a proprietary form of rewards dubbed “Rizz.” Rizz effectively represents the user’s clout within the ecosystem, incentivizing interaction and bolstering the network’s worth.
At present, Zeek is running its Private Beta, which is accessible through X and Discord accounts, indicating the project’s commitment to integration with existing social platforms. Anticipation is also building around the project’s plan to release a limited Tier-0 Genesis NFT collection, which is expected to add great value for early adopters and contribute to the platform’s exclusivity.
This strategic seed funding positions Zeek at the forefront of redefining the digital social framework within Web3, symbolizing a transformative shift in how online interactions and reputations are measured, transferred, and valued. With Web3 promising a leveled-up version of the internet, where decentralization reigns supreme, projects like Zeek help pave the way for a more interconnected and transparent digital society.
