ZeroStack AI Blockchain Launches at $3B Valuation, Falls Short on Funding
ZeroStack, an AI-focused blockchain project, has launched with a $3 billion valuation. Despite raising $13.67 million, it fell short of its $100 million target. The native token, 0G, has dropped 43.28% since trading began.
The project began with an investment of $3 billion, valuing each 0G token at $3. Zero Gravity Labs Inc. contributed $150 million worth of 0G and pre-funded warrants. DFDV added $22.88 million in recycled Solana tokens. Flora Growth Corp. (NASDAQ: FLGC) raised $401 million to focus on 0G and rename itself as ZeroStack.
ZeroStack launched concurrently with the Zero Gravity blockchain on Sept. 21. However, since trading began on Sept. 23, the price of 0G has fallen to $2.80. Only $13.66 million was raised from new investors, with Dao5, Abstract Ventures, Dispersion Capital, Blockchain Builders Fund, and Salt participating. The total raised, including DFDV's contribution, was $35 million. The project's founders agreed to supply $300 million worth of tokens to ZeroStack.
ZeroStack's launch has raised questions about the founders' long-term commitment, given their early liquidity opportunity. Despite falling short of its fundraising target, the project aims to focus on AI development using the 0G token.
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