Startup Zeitgeist raises $1.5 million in seed funding round
The startup Zeitgeist, which is a unique forecasting system based on Polkadot, managed to raise $1.5 million during the seeding round of financing.
Now the team can be proud of the fact that it has experience with venture capital and well-deserved veterans of the market. Four Seasons Ventures, Acala, Web3 Foundation, AU21 Capital, D1 Ventures and Brilliance Ventures are among the companies that have invested in the startup. The capitalists are inspired by the concept presented by Zeitgeist, and they see the potential of the project within the Web 3.0 applications.
Acala co-founder Ruitao Su stressed the need to use the technology of the Zeitgeist team in the Polkadot ecosystem. Su rated their developments in the form of reduced transaction delays, continued access to Karura Dollar (kUSD) and Acala Dollar (aUSD) parachain assets, and future updates without the need for fors.
Interestingly, the project was publicly launched without excessive pathos a couple of months ago. At the same time, the team promotes a very unusual concept called "futarhia." Its essence is to use the information obtained when aggregating data in the prediction markets and to use it to adjust the decision-making mechanism. Not forgetting to include in this mechanism options for further development of the network.
Logan Sater, the founder of Zeitgeist, is convinced that forecasting markets are some of the most promising ways to improve decision-making and information aggregation. According to him, by transferring this power to more people, we will be able to significantly increase the mass introduction of decentralisation principles into everyday life.