As a researcher, I’m thoroughly intrigued by Zeek and the innovative approach it takes towards social collaboration in the Web3 space. With a successful USD 3M seed funding round from reputable investors like OKX Ventures, Animoca Brands, and Mask Network, Zeek is poised to disrupt the SocialFi landscape.
Hong Kong, Hong Kong, June 20th, 2024, Chainwire
- Zeek has completed a USD 3M seed funding round from investors including OKX Ventures, Animoca Brands, and Mask Network
- Zeek will be changing the way social collaboration works in SocialFi through the use of reputation mechanisms
- The Tier-0 Genesis NFT collection, limited to 250, will be dropped later this month
A decentralized platform called Zeek, which focuses on social bounties and reputation within blockchain networks, recently raised $3 million in seed funding prior to its scheduled launch in July.
As a researcher, I’ve come across various investors involved in funding initiatives for consumer-oriented products developed by Everest Venture Group. Among these investors are OKX Ventures, Animoca Brands, Mask Network, Arche Fund, Summer Ventures, Blockchain Coinvestors, Aspen Digital, CatcherVC, Panony, Spacebar, and Hardbank. Additionally, super angels such as Jason Kam from Folius Ventures, Ivan Li of Comma3 Ventures, and Donny Chi of WeMade have also contributed to these investments.
“Thanh Le, Nighty Eight’s Founder, expressed his alignment with Zeek’s mission to empower daring entrepreneurs shaping the future of the open internet in the burgeoning SocialFi sector. His faith in the team’s vision and ability to execute reinforces Nighty Eight’s dedication to fostering their growth.”
As an analyst, I’m excited about consumer-focused projects like Zeek that seamlessly integrate practical applications with gamified experiences in social media and gaming environments. Zeek’s decentralized collaboration economy encourages natural collaboration through on-chain rewards, which monetizes the latent value of social networks and individual talents. This creates new avenues for engagement, making disruptive technologies more accessible and enjoyable for a wider audience. I strongly believe in this innovative approach.
In the realm of Web3 technology, it’s frequently advised that users exercise caution and thoroughly investigate anyone, platform, or data they come across before placing trust in them. However, carrying out due diligence can be a challenging task. Zeek offers a solution by introducing an on-chain reputation system that acknowledges individuals who contribute value through collaborative efforts.
Utilizing the OpenSocial Protocol, Zeek functions as a social platform where users can capitalize on their knowledge, connections, resources, and effort via on-chain incentive systems referred to as “Wish” and “Rizz“.
(Image 1: ‘Wish’ on discovery page)
As a researcher studying the dynamics of social networks, I would describe it this way: Users generate social worth by engaging with “Wishes,” which serve various functions such as knowledge acquisition or relationship building. In return, users earn “Rizz” based on their level of involvement and interaction within the network. This currency not only forms a social reputation but also serves as a digital badge recognizing the value a user adds to the community.
In simpler terms, “Rizz” represents the concept of giving and receiving in return, particularly in terms of financial rewards and power within a system. Zeek’s product and token aim to encourage and build a reputation through collaboration and on-chain interactions.
In simple terms, using Zeek allows users to evaluate the credibility of an individual by assessing their earned reputation, thereby introducing a novel means of fostering trust within the decentralized digital realm of Web3.
Angus Ko, the CEO of Zeek, expressed that the goal of SocialFi’s future lies in establishing new economic systems by financially integrating existing social actions. In our belief, the ultimate objective of SocialFi is the creation of a reputation layer which serves as a bridge linking social influence to on-chain identities.
Zeek is expected to formally debut in July; its Private Beta is currently underway and will continue until the launch. Users can sign up for early access through their X and Discord accounts on this page. Moreover, the Tier-0 Genesis Non-Fungible Token (NFT) collection from Zeek, which consists of 250 units, will be made available later in this month.
About Zeek
In simpler terms, Zeek is a decentralized platform that encourages collaboration through reputation incentives, using unique social reward systems known as “Wishes.” Your actions and interactions build up a reputation layer called “Rizz,” which can be converted into currency and employed to assess trustworthiness, dependability, and influence.
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Kelvin Yeo
Everest Ventures Group
kelvin.yeo@evg.co
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2024-06-20 06:12