Web5 App Zion Launches New Version, Raises $6M In Funding Round

Zion’s latest backing circular brings the decentralized societal level company’s valuation to $53 million.

Miami-based startup Zion has launched a caller mentation of its app providing entree to the Web5 decentralized societal network, alongside the raising of $6 cardinal successful a backing circular led by XBTO Humla Ventures.

The Zion protocol is designed to let creators to ain their communities portion users person power implicit their online identity, and is based connected Jack Dorsey’s Block’s Web5 standards and the Bitcoin Lightning Network. According to the release, Zion's v2 app has a waiting database of implicit 60,000 users and a valuation of $53 million. The latest circular of backing was backed by a scope of investors, including footballer Aaron Rodgers and motivational talker Tony Robbins.

The caller app provides a "universal modular for societal information exchange" based connected "decentralized identities, communities and societal content" and "interoperable peer-to-peer relationships.” Its features see a decentralized identifier system, decentralized web nodes and a Bitcoin Lightning wallet. Zion claims to person already served implicit 3,000 creators, portion processing much than 120,000 transactions betwixt creators and fans utilizing Lightning.

Founder and CEO Justin Rezvani said that the company's concern exemplary was "based connected giving you a merchandise that you tin usage to physique your audience, that you tin ain and monetize". The aim, helium added, is for Zion to beryllium "the past level you ever person to physique an assemblage on". The protocol, Rezvani said, was a effect to the "large-scale censorship of code and a ceaseless array of information breaches, globally" that has resulted from centralized societal media platforms.

Greg Carson, managing spouse astatine XBTO Humla Ventures, said the squad astatine Zion combined "a heavy knowing of creator communities and scalable peer-based contented technology" with a Lightning payments network, making the institution "a unsocial and breathtaking concern for the ecosystem".