TechFlow reported, according to The Block, that ZAP, a token distribution protocol built on Blast, has raised $15.1 million in funding at a $100 million valuation. Francis, founder and CEO of ZAP, said the funds were raised through three recent rounds: a $900,000 seed round in December last year, a $2.1 million private sale last month, and $12.1 million from an ongoing "treasury sale." The "treasury sale" is similar to node sales, and ZAP plans to conduct a token generation event in the coming months, with total fundraising potentially reaching $50 million.
Investors in ZAP's seed and private rounds include Rarestone Capital, Cypher Capital, Sharding Capital, Luca Netz of Pudgy Penguins, Larry Cermak of The Block, and Chelsea Jiang of Foresight Ventures.
