T-Rex Secures $17 Million Pre-Seed Funding for Web3 Engagement Platform

T-Rex, a Web3 consumer entertainment platform, has successfully secured $17 million in pre-seed funding. This significant investment round was led by a consortium of prominent venture capital firms, including Portal Ventures, North Island Ventures, Framework Ventures, and Arbitrum Gaming Ventures, among others. The funding round also included contributions from ArkStream Capital, Mindful Venture Capital, Hypersphere, SNZ, and Arche Fund. This pre-seed funding represents the total amount of capital raised by T-Rex to date.

The platform aims to revolutionize the way consumers engage with online content by rewarding them with cryptocurrency for their engagement. T-Rex's innovative approach involves a "proof-of-engagement" system, where users download a browser extension to track their online activities. This extension employs zero-knowledge transport layer security (zkTLS) technology to ensure that user data remains private while verifying engagement between Web2 and Web3 platforms. Users earn points by clicking on "popcorn" icons that appear on their screens as they consume content. These points can then be converted into cryptocurrency rewards. The system is designed to learn from user preferences over time, recommending more tailored decentralized applications or content.

T-Rex's co-founder, Allen Ng, highlighted the platform's unique value proposition, stating that while many rollups focus on scalability and modularity, T-Rex addresses the fragmented user experience that often hinders adoption. Ng emphasized that T-Rex's blockchain technology remains invisible to users, allowing them to seamlessly convert their online engagement into meaningful rewards. The platform's vision is to transform attention into equity, community into power, and participation into currency.

The company plans to launch its browser extension by the end of this summer. By the end of the year, T-Rex aims to onboard over 100 content creators, expand its media partnerships, and strengthen its intellectual property collaborations. T-Rex is developed by Everest Venture Group, an Asian publisher and venture firm, and is built on Arbitrum Orbit. This strategic development underscores T-Rex's commitment to leveraging cutting-edge technology to enhance user engagement and reward mechanisms in the Web3 ecosystem.