Believing that Web3 is the inevitable future of the Internet, Zigazoo is planning to add more Web3 experiences, launch NFTs collections, and increasing in-app utility of the tokens to include improved trading options and fan club experience.
Zigazoo, a US-based social media network for children, announced it had raised as much as $17 million in a Series A funding round. The fundraising campaign was led by Liberty City Ventures, a New York-based venture capital firm. Causeway, the NBA, Dapper Labs, OneFootball, Flamingo Capital, Medici VC, Animoca Brands, and Lightspeed Venture Partners participated in the round as well.
The total amount raised by Zigazoo since its launch in 2020 makes up $21 million. According to Zigazoo, the company will use the proceeds from the Series A round to expand its Web3 projects.
Zigazoo founder and CEO Zak Ringelstein said:
“We’re planning on using the new capital to become the biggest kids company in the world by expanding our Web3 offerings while building towards becoming the leading social network for kids to interact directly with creators and brands in the kids’ media space.”
Believing that Web3 is the inevitable future of the Internet, Zigazoo is planning to add more Web3 experiences, launch NFTs collections, and increasing in-app utility of the tokens to include improved trading options and fan club experience.
Zak Ringelstein added:
“Like it or not — web3 is the future of the internet and economy, and kids need a safe space to learn about it. Child-friendly NFTs are a perfect way to introduce kids to web 3 technology and financial literacy. There are tons of fun and engaging products teaching kids how to code, but very little content that teaches kids about what blockchain technology is and what it’s capable of.”
Besides, Zigazoo is planning to build a creator studio for users to create their marketplaces to sell NFTs and other digital goods. It also wants to add more gaming elements into the platform, and “spark joy” by using QR codes to provide learning experiences through AR.
About Zigazoo
Zigazoo is the world’s largest social network and NFT education platform for kids. Being one of the top-five kids app in the Apple App Store, Zigazoo allows kids make creative video responses, like in TikTok, to challenges made by the world’s biggest children’s brands and share them with friends. The app is engaging its little users in meaningful project-based learning and challenges while entertaining them at the same time.
In April, Zigazoo sold out three NFT drops for kids in partnership with Moonbug Entertainment. The NFT collections built on the Flow blockchain and sold on Zigazoo’s platform came in three rarity levels. The price varied from $5.99 to $49.99 depending on its rarity.
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Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.
Source: https://www.coinspeaker.com/zigazoo-17-million-series-a-funding/