Web3 consumer rewards platform T-Rex nets $17 million in pre-seed funding

The web3 consumer entertainment protocol T-Rex raised $17 million in pre-seed financing, which comprises the firm's total funding to date. 

T-Rex's investors include Portal Ventures, North Island Ventures, Framework Ventures, Arbitrum Gaming Ventures, ArkStream Capital, Mindfulness Capital, Hypersphere, SNZ, and Arche Fund, according to a release shared with The Block. The firm's board of directors will not change after the funding round. 

T-Rex aims to reward individuals consuming content online, such as on X, TikTok, or YouTube, with cryptocurrency rewards. The platform deploys "proof-of-engagement" that involves a user downloading a  browser extension to track their engagement. The extension uses zero-knowledge transport layer security (zkTLS) technology to verify information between web2 and web3 platforms without compromising user privacy.

The user must then click on "popcorn" that appears in the corner of their screen as they watch content. The more content they click, the more points they get, which can then be converted into crypto rewards. The project said the system would gradually learn the user's preferences and recommend more specific decentralized applications or content. 

T-Rex noted that it plans to launch its browser extension by the end of this summer. 

"Most rollups focus on scalability and modularity, but few tackle the biggest barrier to adoption — fragmented UX that leaves users and developers navigating disconnected, unintuitive systems," Allen Ng, the firm's co-founder, told The Block in an email.

"Our blockchain stays invisible, letting them effortlessly turn their online fun into meaningful rewards," Ng said in a statement. "Our vision is to let attention becomes equity, community becomes power and participation becomes currency."

By the end of the year, T-Rex aims to onboard more than 100 content creators, expand its media partnerships, and bolster intellectual property collaborations. 

T-Rex is developed by Everest Venture Group, an Asian publisher and venture firm, and is built on Arbitrum Orbit.