Zostel co-founders enter Web3, launch physical space for NFT communities

Branded hostel chain Zostel's co-founders Dharamveer Singh Chouhan and Chetan Singh Chauhan have forayed into 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.

Named Zo Membership, Zo House, and Zo Studio, the three initiatives are the second attempt by the co-founders at building engaged and trusted communities, following Zostel, which they say is running "profitably and separately."

"Zo World has no connection with Zostel except for the fact that we are founders in both the companies," they told The Decrypting Story.

Reportedly, Zo Membership is open to anyone interested in joining the club. The membership can be obtained by purchasing 'Zo World Founders' NFTs on OpenSea.

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Zo World has launched 1,111 Founder NFTs, out of which 789 have already been minted, the startup claims. It now plans to open up the sale for the remaining 322 NFTs to select 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 space for creators, collectors and NFT enthusiasts to work, live and socialise.

"Zo House can be booked exclusively by submitting an application on the website (zo.xyz). The space offers two types of rooms—dorms and private—and features a studio, gym, gaming area, NFT gallery, dedicated workstation, and 24x7 lounge for gamers, influencers, artists, and creators," the startup said in a written statement.

Zo House currently has 15 members residing regularly, and has led to 60+ partnerships among residents, giving rise to 20 NFT artists and 4,200 added NFT collections, it claimed.

"We are planning for the next Zo House in New York City," the founders said.

Zo Studio—the third piece of the offering—is a platform to enable artists leverage, establish and monetise their talents. They can also find other artists to collaborate with.

"Zo World is majorly bootstrapped, with some support from angel investors such as Sandeep Nailwal, Co-Founder, Polygon," the founders added. "Our revenue comes from primary and secondary sales of NFT membership, Zo House accommodation, events and sponsorships and Zo Studio commission on sales."