Zigazoo, a social media platform for minors, has taken further strides in its Web3 ambitions with a recent fundraiser. The Series A funding round reportedly raised $17 million in a series of donations led by Liberty City Ventures.
The social platform reportedly intends to introduce more NFTs soon towards increasing the utility of the tokens on its app. In April, Zigazoo had launched a series of non-fungible tokens showcasing long-necked children and animals.
Biggest Company for Kids
Speaking about the new development, Zak Ringelstein, the Chief Executive Officer of Zigazoo, revealed:
‘We’re planning on using the new capital to become the biggest kids company in the world by expanding our Web3 offerings.’
Ringelstein announced that the kids-safe social platform plans to introduce better trading alternatives and a novel kids’ fan club. The social platform’s CEO also revealed that his company aims to become a leading social network globally that allows minors to interact better with NFT creators and brands.
HUGE news! Announcing Zigazoo’s $17M Series A from
— Zigazoo (@ZigazooKids) June 28, 2022
Some funding participants include the NBA, Dapper Labs, Onefootball, and Animoca Brands. Causeway, an American franchise with company partners that include CEOs of the Boston Celtics and San Francisco 49ers, also participated in the $17m crowdfunding for the Miami-based kids’ social network.
More on the Child-Safe Social Platform
Zigazoo is the largest children’s social platform globally and one of the top 5 children’s apps in the play store. Users can create and share videos while responding to challenges from approved kids’ companies and young artists.
Earlier this year, Zigazoo sold out four non-fungible tokens to educate the kids about Web3 technology. The child-safe Web3 community, built by Flow blockchain, is available for purchase on the Zigazoo app. Account owners can trade non-fungible tokens and use them in their videos and display pictures.
Emil Woods, a founding partner at Liberty City Ventures, Zigazoo hopes to expand Web3’s prospects by educating its future creators. The fundraiser’s organizers have yet to publish information about the crowdfunding‘s post-money valuation.