Zostel’s co-founders enter Web3, launching physical space for NFT communities
Branded hostel chain Zostel co-founders Dharamveer Singh Chouhan and Chetan Singh Chauhan have entered Web3 with Zo World – an initiative to help NFT artists and communities.
Zo World includes membership options, physical spaces and studio setups to incubate, curate and launch NFT artists.
The three initiatives, called Zo Membership, Zo House, and Zo Studio, are the co-founders’ second attempt at building engaged and trusted communities, following Zostel, which they say runs “profitably and separately.”
“Zo World has no connection with Zostel except for the fact that we are founders of both companies,” they said The Decryption History.
Reportedly, Zo membership is open to anyone interested in joining the club. Membership can be obtained by purchasing ‘Zo World Founders’ NFTs on OpenSea.
Zo World has launched 1,111 Founder NFTs, of which 789 have already been minted, the startup claims. It now plans to open the sale of the remaining 322 NFTs to selected individuals.
The founders claim Zo World has crossed 100 ETH in primary and secondary sales.
Zo House’s offline location – in Koramangala, Bengaluru – is a physical place for creators, collectors and NFT enthusiasts to work, live and socialize.
“Zo House can be booked exclusively by submitting an application on the website (zo.xyz). The space offers two types of rooms – dormitories and private – and features a studio, gym, gaming area, NFT gallery, dedicated workstation and 24×7 player lounge , influencers, artists and creators,” the startup said in a written statement.
Zo House currently has 15 members living regularly and has led to 60+ partnerships among residents, giving rise to 20 NFT artists and 4,200 additional NFT collections, it claimed.
“We are planning for the next Zo House in New York City,” the founders said.
Zo Studio – the third part of the offering – is a platform to enable artists to leverage, establish and monetize their talents. They can also find other artists to collaborate with.
“Zo World is largely solidified, with some support from angel investors like Sandeep Nailwal, co-founder, Polygon,” the founders added. “Our revenue comes from primary and secondary sales of NFT memberships, Zo House accommodation, events and sponsorships and Zo Studio commission on sales.”