Bengaluru (Karnataka) [India], March 14 (ANI/BusinessWire India): Zo World, the World's first club that empowers artists via the digital economy, announced the launch of Zo Membership, Zo House and Zo Studio aimed at incubating, curating and launching artists in the Web3 space. With the recent boom in NFT adoption, Zo World recognizes the potential for artists to be a part of the Web3 ecosystem via the digital assets' economies. Zo World will offer assistance to create and sell art, provide curated options for NFT collectors, and fuel curiosity in NFTs among Web3 enthusiasts. In the next two years, the startup is planning to expand its network of NFT artists to 4269 across 50 cities globally. The startup will also aggressively train more NFT artists that they can add to their roster.
Founded in 2022 by Dharamveer Singh Chouhan and Chetan Singh Chouhan, Zo World is the second stint at creating engaged and trusted communities for both founders. With an objective of depicting various global cultures by leveraging digital economies through NFTs, Zo World has developed three comprehensive solutions - Zo Membership, Zo House and Zo Studio.
By building a community that is based on trust and an ecosystem that accelerates culture-based digital economies, Zo World believes that NFTs will change social structures. Pegged as the "go-to club" for all NFT artists, collectors, and Web3 enthusiasts, anyone can subscribe to the Zo Membership by buying the "Zo World Founders" NFTs on OpenSea - a NFT marketplace. Trading on the Ethereum chain, Zo has launched 1,111 Founder NFTs out of which 789 have already been minted. The sale for the remaining 322 NFTs will be opened up to select individuals who have been chosen based on various criteria. It is the only NFT project in India that has crossed 100ETH+ volumes in primary and secondary sales. The "Zo World Founders" NFTs have a current floor price of 0.3 ETH (4x of the mint price) during the bear market.
BLRxZo is the first Zo House with a vision to bring the offline world and the world of NFTs together. It is a real life space built for creators, collectors, and NFT enthusiasts to work, live, socialize, and network while fostering inspiration and collaboration. Anyone with a Zo World Founders NFT has access to a luxury co-living space that is protected by NFT/token gated access, premium co-working zones, a hub for Web3 events, a 24/7 lounge and dedicated concierge service among other benefits.
Promoting the Web3 way of life and the ethos that Web3 is more phygital now than ever, Zo House can be booked exclusively by submitting an application on their website (zo.xyz). There are two types of rooms available at Zo House - dorms and private. The space also offers a studio, gym, gaming area, NFT gallery, dedicated workstation, and 24x7 degen lounge for gamers, influencers, artists, and creators. Zo House is the first instance in the world where the offline world intersects with the world of Web3. The property currently has 15 members residing regularly and has led to 69 partnerships among residents, given birth to 20 NFT artists, and brought on board 4200 new NFT collectors as of today.
Zo Studio enables artists to leverage their talent, establish connections with collectors, and broaden their reach by utilizing NFTs as a means of monetization. Aspiring and established artists can actualize their talents and devise a long-term NFT strategy. They can also find other artists to collaborate with while building a community that depicts global cultures via NFTs. These NFTs will be spearheading the effort of diversifying the art industry while boosting the artist's earnings and their collector community. Zo Studio is bullish about NFTs bought for investments, utilities and as identities. The Zo Membership doubles as an NFT that provides access to this trusted community and their products, and services.
Zo Studio has already inspired 20 artists to launch their collection and has achieved a 100% sell-out rate with buyers from 10+ countries who now own 10,000+ NFTs.
The NFT industry has seen a huge uptick in recent times. According to a report by market tracker CryptoSlam, total NFT sales on the Ethereum blockchain - which hosts most trading - jumped to $780.2 million in January 2023 from $546.9 million the month before. Since NFTs are digital assets that use blockchain technology to prove ownership and authenticity of content, they are a great way for digital artists, gamers, and musicians to monetize their content and ensure that it remains unique and protected. As of Feb 2023, the total NFTs sales volume since 2018 on the Ethereum blockchain is $37 Billion with 28.6 million transactions and 2.9 million NFT collectors according to a report by The Block. Blockchain technology has opened up a whole new market for digital art, and some NFTs have sold for millions of dollars at auction.
However, there are some challenges hindering the widespread adoption of NFTs. A significant lack of awareness coupled with the absence of knowledge regarding the opportunities and benefits of NFTs is a huge barrier. In addition, collectors struggle to find trustworthy creators, while creators lack resources and networks to succeed. Furthermore, artists struggle with monetizing diverse art forms and breaking into exclusive art markets. Here is where Zo World aims to make the biggest impact by creating a community of trusted artists and collectors. Zo World truly believes that one day, the world of art will be a mix of traditional paintings and NFTs.
Dharamveer Singh Chouhan, Cofounder, Zo World, said, "NFTs are increasingly gaining popularity. For a lot of people entering Web3 for the first time, NFTs are their go-to purchase. Adding new art, artists, and collectors is the key to fueling the digital economy. Zo World aims to unlock the digital assets economy for the masses. We envisage that Zo World will be the first point of entry for new NFT artists, collectors, and enthusiasts who will buy NFTs as investments, support, collectibles and identity. We are bullish about Zo World and its possibilities in making NFTs mainstream, an income-generating tool, and the best way to express art."
Chetan Singh Chouhan, Cofounder, Zo World, said, "The NFT industry is one of the fastest growing and biggest markets of the future. It is exciting to see the transformation of NFTs from mere art to becoming the go-to digital collectibles for people globally. With Zo Membership, Zo House and Zo Studio, we aim to play an active part to help this technology rapidly evolve as it has the potential to revolutionize many industries. From art to music and gaming, the uses for NFTs are diverse. This is why we have launched a dedicated suite of products where degens can meet and learn from Web3 OGs and go on to create their own NFTs and be a part of the revolution. The objective is to make Zo World the first point of contact for anyone who is currently an NFT artist or aspiring to be one. We will provide all the support they need to ideate, create and launch their NFTs thereby playing a huge role in moving the ecosystem forward."
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