ZTX

About ZTX

ZTX is a Singapore-based company founded in 2022 that is developing a Web3 social metaverse platform. It emerged as a joint blockchain initiative between ZEPETO, Asia's largest metaverse platform, and notable blockchain organizations like Jump Crypto. The company secured $13 million in a seed funding round in August 2023, with investors including Jump Crypto, Collab+Currency, Everest Ventures Group, Parataxis Capital, and MZ Web3 Fund. This was followed by an Initial Coin Offering (ICO) in October 2023 that raised an additional $70K.

The company is led by co-CEOs Chris Jang and Jeehyun Chang. Chris Jang is a serial entrepreneur with a background in venture and blockchain investment, having been a founding member of the accelerator Bluepoint Partners and a co-founder of StationNEO and DSL Capital. Jeehyun Chang is a graduate of Iowa State University. The leadership team also includes Chief Creative Officer Travis Britton, who previously led the rebranding for Roblox, and Chief Operating Officer Kay Yoo, who has experience from Origin Protocol and KPMG.

ZTX is creating an immersive 3D open-world where users can engage in social networking, gameplay, and a creator-driven economy. The platform leverages the technology and intellectual property of ZEPETO, which has over 400 million lifetime users, to bridge the gap between Web2 and Web3 audiences. The business model centers on empowering creators and users to build, play, and earn. Users are given a free plot of land which they can develop by crafting assets from resources, creating an economic engine for themselves. The platform facilitates a creator economy where user-generated assets, such as wearables and items, can be minted as NFTs (ERC721 and ERC1155) and traded within the ecosystem.

Revenue is generated through the platform's native utility token, $ZTX. This token is the default currency for purchasing in-game assets and is required for certain crafting fees. It also serves a governance function, allowing token holders to vote on ecosystem parameters, and can be used for in-game utility, such as speeding up timers for tasks like harvesting and crafting. Initially launched as a PC application for beta testing, ZTX is transitioning to a mobile-first platform to better cater to ZEPETO's user base and the broader internet audience. The mobile launch is planned for the Creator Chain, a Layer-2 ZK chain built using ZKsync technology.