📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Zeek, a New Decentralized Social Collaboration Network, Raises USD 3M Seed Funding To Reinvent Social Reputation In Web3

Published 06/19/2024, 10:00 PM
Updated 06/19/2024, 10:30 PM
Zeek, a New Decentralized Social Collaboration Network, Raises USD 3M Seed Funding To Reinvent Social Reputation In Web3

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
Zeek, a decentralized collaboration network for on-chain social bounty and reputation, has successfully completed a USD 3M seed funding round ahead of its official launch in July.

Investors include OKX Ventures (as part of its strategic investment in Everest Venture Group’s consumer-oriented products, which includes Zeek), Animoca Brands, Mask Network, Arche Fund, Summer Ventures, Blockchain Coinvestors, Aspen Digital, CatcherVC, Panony, Spacebar, Hardbank and super angels including Jason Kam of Folius Ventures, Ivan Li of Comma3 Ventures and Donny Chi of WeMade.

“Backing the Zeek team resonates with our goal of supporting bold founders in building the future of the open internet, and it is definitely an exciting opportunity to participate in the nascent growth of something new in the SocialFi space. Our confidence in the team's vision and execution capabilities strengthens our commitment to helping their growth,” said Thanh Le, the Founder of Nighty Eight.
“We see significant potential in consumer-oriented initiatives like Zeek that blend real use cases with gamified experiences in social and gaming contexts. Zeek's decentralized collaboration economy promotes organic collaboration through on-chain bounties. By monetizing the idle value of social networks and personal skills, it creates new opportunities for all participants. We are confident that this will make disruptive technologies accessible and enjoyable for mainstream audiences,” said Suji Yan, the Founder & CEO of Mask Network
In the world of Web3, users are constantly encouraged to do their due diligence before trusting a person, platform, or any information they see, which is easier said than done. Zeek aims to solve this through its on-chain reputation construct, recognizing users who create value through social collaboration.

Powered by OpenSocial Protocol, Zeek is a social network that allows users to unlock the value of their intelligence, network, access, and time through on-chain social bounty mechanics and reputation called Wish and Rizz.

(Image 1: ‘Wish’ on discovery page)

Social value is created as users create and participate in ‘Wishes’, which can be applied for different purposes, whether to seek out information and insight or expand your network and connections. Users will then be able to gain ‘Rizz’ through contributions and engagements in the network, which will naturally construct a social reputation layer for everyone and act as an on-chain recognition of the social value the user creates.

‘Rizz’ is an embodiment of karma whereby the more you give, the more you should be given in forms of economic incentive and measurable influence. Zeek's product and token are designed to foster such collaboration and construction of on-chain reputation.

With Zeek, users will be able to check the reliability of a person based on the reputation they have built, creating a whole new way to enforce trust in the Web3 world.

“The future of SocialFi is to create new social economies through the financialization of existing social behaviors and hence, we have built Zeek as we believe the endgame of SocialFi is the reputation layer, which bridges the gap between social influence and on-chain identities,” said Angus Ko, CEO of Zeek.
Zeek is anticipated to officially launch in July, with its Private Beta running from the present until the launch date. Currently, users are able to pre-register via their X and Discord accounts here. Additionally, Zeek’s Tier-0 Genesis NFT collection, limited to 250, will be dropped later this month.

About Zeek

Zeek is a decentralized collaboration economy incentivizing reputation, and powered by innovative social bounty mechanics called ‘Wishes’. Individual behaviors and engagements contribute to the construction of a reputation layer called ‘Rizz’, which can be monetized and utilized to gauge credibility, reliability, and influence.

Twitter | Website

ContactPR ManagerKelvin YeoEverest Ventures Groupkelvin.yeo@evg.co

This article was originally published on Chainwire

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.