ZOOT, a sweepstakes gaming platform bringing video game sensibilities to iGaming entertainment, announced it has raised $6 million in seed funding led by CoinFund (one of the world’s first cryptonative investment firms) with participation from Griffin Gaming Partners to expand the current US-focused business to a global-facing and stablecoin-driven one.
How the funding will be used: The funding will further expand the opportunities for instant and borderless payments in digital entertainment as stablecoin adoption surges, with payment giants like Visa and PayPal racing to integrate crypto rails for faster, cheaper transactions.
The funding will also advance ZOOT’s platform development and help the team prepare for international expansion. Although ZOOT currently operates in the U.S. market, the company sees its most significant growth opportunity in introducing stablecoin-powered gaming to markets across Southeast Asia, Latin America, and Africa. The company plans to launch additional game titles and enhance its blockchain integration capabilities in the coming months.
Founder background: Co-founded by gaming industry veterans John Cahill (ex-Sega, Shockwave, Yahoo Games, and Open Wager) and Sean Ryan, who led Facebook’s multi-billion dollar games business, ZOOT is building an iGaming platform that pioneers a new approach to iGaming that combines the engagement of video games with the efficiency of blockchain-based payments. Ryan brings decades of experience from leadership roles, including CEO of digital music service Listen.com/Rhapsody and co-founder of OpenWager (the company behind the leading sweeps product Luckyland Slots), which was successfully acquired by VGW in 2017.
Building on a successful launch in the US-focused sweepstakes sector, ZOOT’s upcoming global platform addresses key friction points in traditional online gaming, such as payment processing delays and geographic restrictions. And the platform’s flagship games, including its leading Beer Pong adaptation and the classic Plinko game, demonstrate how traditional chance-based mechanics can be reimagined through a video game lens, offering more interactivity and enhanced audio and graphical fidelity.
KEY QUOTES:
“Blockchain gaming with real currency integration represents one of the most compelling opportunities in digital entertainment today. We’re bringing video game design principles to iGaming to create experiences that are not only entertaining, but also transparent and instantly rewarding. With stablecoins eliminating traditional payment friction, we can serve players globally with zero fees and instant payouts.”
Sean Ryan, CEO and Co-Founder of ZOOT
“We are now seeing explosive growth in stablecoin adoption, and real-money gaming is a trillion-dollar market waiting to be transformed by crypto rails. Sean is one of the most thoughtful and experienced entrepreneurs in gaming, and we believe he and his team will be one of the largest winners in this market as they create a much more mainstream experience for real-money gaming players around the world.”
David Pakman, Managing Partner and Head of Venture Investments at CoinFund
