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zeitgeist seeds

Zeitgeist closes $1.5M seed round to develop Polkadot’s prediction market hub

Industry veteran Zeitgeist has closed a $1.5 million seed round to build prediction markets on Kusama and Polkadot. In a press release available to CNF, the company said the round included participation from D1 Ventures, Genblock Capital, AU21 Capital, Digital Renaissance, A195 Capital, Four Seasons Ventures, Brilliance Ventures, BlockSync Ventures, the co-founders of Acala and an individual from the Web3 Foundation.

The funding will be used to accelerate the development of the Zeitgeist Network, a hub and ecosystem for Web3 prediction markets. Logan Saether, founder and CEO of Zeitgeist stated:

Prediction markets are powerful mechanisms for aggregating information and improving decision making, and Zeitgeist puts that power into the hands of more people to drive mainstream adoption. We have an experienced team who understands how to deliver on the promise of prediction markets, and we’re thrilled to have such an amazing group of investors backing Zeitgeist.

In addition to the core prediction markets function, Zeitgeist will also rely on an innovative on-chain governance model based on prediction markets called Futarchy. The function will use signals derived from the data aggregation property of prediction markets to make better decisions about the evolution of the network.

Zeitgeist is built on Polkadot’s blockchain framework Substrate and is expected to be ready as a parachain on Kusama towards the end of the year. The team intends to establish itself as a hub for prediction markets in Polkadot’s Web3 ecosystem, like Augur or Gnosis on Ethereum. Tamara Frankel, founding partner of D1 Ventures said:

The concept of Futarchy goes hand in hand with the ethos and on-chain governance capabilities of the Kusama ecosystem. I’m an avid user of prediction markets on Ethereum, and it’s exciting to imagine the possibilities within the Kusama and greater Polkadot ecosystems.

Ruitao Su, co-founder of Acala and an individual investor in Zeitgeist, shares the enthusiasm, stating, “ I am super excited to back another specialized network in the Kusama and Polkadot ecosystem. Zeitgeist is a network purposely built for prediction markets. I can’t wait to explore the new possibilities enabled by Zeitgeist – low transaction costs, seamless access to parachain assets such as the Karura Dollar (kUSD) or Acala Dollar (aUSD), forkless upgrades, and so much more .”

Zeitgeist seeds

Thinking and solving
problems of tomorrow

The Zeitgeist difference

We believe that for ideas to achieve tangible, sustainable growth, we have to bring together startup founders, industry experts and private investors.

People // Places // Culture

We define Zeitgeist as the dynamic interplay of People, Places and Culture. These are the three cardinal points that we always use to orient ourselves. They form the basis of every thing we do.

People create the future

People with ideas, people with vision, people with courage, people with talents & people with resources need to come together to accelerate the world into the future.

Places enable innovation

Places with the right ecosystem, with good infrastructure and access and navigable rules are the breeding grounds for innovation.

Culture fuels action

Cultures that encourage great ideas, cultures that inspire questions, cultures that celebrate the freethinkers, inventors and doers provide the fuel to the fires of change.

The basis of everything we do

Businesses need to get the proportions of these three fundamentals ingredients exactly right, in order to achieve sustainable growth and have a lasting impact on the progress of humankind.

More than a venture capital firm

Investment Club

Our investment club is a network of close friends, with whom we invest in startups that will redefine lifestyle categories. We offer co-investment, deal flows, portfolio business growth and an investor network.

Innovation Consultants

We partner with corporate and private investors. As innovation consultants, we share our expertise in IP acquisition, investment portfolio, sales and marketing, insights in industry trends and best practices.

Venture Capital

We co-invest in startups and ventures from pre-seed, seed and early stages that are redefining lifestyle as we know it. To date we have invested in over 24 ventures through LeAD through our investment office based in Bahamas.

Accelerator

As a part of our venture ecosystems, we also build accelerators. We plan to launch more acceleration programs in the near future. Besides acceleration, we also have short mentorship workshops for startups looking for support.

Venture Builder

Our venture builder program offers guidance, expertise, community, know-how and fundraising. We have expertise in business planning, leadership team recruitment, community building, branding and go-to-market, financial planning and more.

Networking

Our Club of ideas is a platform that brings together influential minds to capture the ideas that are shaping the future. Through events, podcasts and workshops, we offer a platform to the change-makers, risk-lovers, dreamers and thinkers.