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

Zeek raised $3M in seed funding from OKX Ventures, Animoca Brands, and Mask Network, aiming to revolutionize SocialFi with reputation mechanisms.

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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.

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.

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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.

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