Web3 Startup ZTX Raises $13 Million in Seed Round

Jump Crypto led a $13 million seed round for Singapore's Web3 virtual world and creator platform ZTX. ZTX said in a statement on Aug 15 that notable investors included Collab+Currency, Parataxis, MZ Web3 Fund, Everest Ventures Group, and others.

It stated that investors' trust in ZTX reflects the market's recognition of the project's significant potential in the Web3 space, as well as the team's unique advantages, including the more than 400 million lifetime users attracted by its legacy Web2 business ZEPETO.

According to active user metrics, ZEPETO is the world's fourth largest metaverse platform, trailing only Roblox, Fortnite, and Minecraft, and it also has hundreds of active strategic partnerships ranging from Gucci and Starbucks to K-Pop girl groups BLACKPINK.

According to the statement, the ZTX team will build on such existing resources to contribute to a wider adoption of Web3 by global audiences.

With senior veterans from Apple, Roblox, Epic, EA, and other Web2 giants joining forces with seasoned builders from Cosmos, Flow, Solana, and other notable Web3 ecosystems, ambitions are high at ZTX to advance the Web3 infrastructure for creators in 3D, immersive environments.

"With our token launch coming up in the coming months, we want to emphasise the commitment that our investors, like our team, have towards our vision of providing an infrastructure layer to creators," said Chris Jang, Co-Chief Executive Officer of ZTX.

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