Cypher Capital Invests $12M in SecondLive Metaverse Platform | AI-Powered Web3 Revolution
Cypher Capital, a leading crypto investment firm, has joined a $12 million private funding round for SecondLive, a cutting-edge Web3 open Metaverse platform fueled by artificial intelligence. This investment, led by Crypto.com and supported by Spark Digital, MetaEstate, TAISU Ventures, and other key players, brings SecondLive’s total funding to $15 million.
SecondLive, utilizing generative AI to craft virtual spaces and social experiences in the Metaverse, plans to enhance its infrastructure for large-scale events, expand social networks, and bolster creator economic activities with the newly acquired funds. Boasting over 5 million registered users and 1.81 million digital assets generated by users and AI, the platform operates across eight major blockchain networks.
"We are excited to welcome Cypher Capital as a crucial partner," said SecondLive. "Their deep expertise in the crypto industry will be instrumental as we drive growth and innovation in our platform to meet the demands of the next wave of Web3 adoption and advancement."
In a landmark achievement in 2021, SecondLive achieved a valuation of $30 million after securing seed funding from Binance Labs and support from Binance Smart Chain's $1 billion fund. Cypher Capital CEO Vineet Budki praised SecondLive for revolutionizing user interactions within digital environments and the Metaverse, highlighting the platform's use of AI to create dynamic, user-generated virtual spaces.
Cypher Capital specializes in backing early-stage blockchain projects with funding and strategic support, focusing on areas like DeFi, NFTs, infrastructure, and Web3. With a global network, Cypher Capital offers a wide array of support services, including financial tools, market insights, and consulting. The company's diverse portfolio includes investments in projects such as Ton, Berachain, Sei Network, and zkPass.
Analysis:
Cypher Capital's investment in SecondLive's Metaverse platform illustrates the growing importance of AI-powered Web3 technologies in the crypto industry. By leveraging generative AI to enhance virtual experiences, SecondLive is at the forefront of driving innovation in the Metaverse and shaping the future of Web3 adoption. This partnership not only highlights the potential for growth and advancement in the digital space but also underscores the significance of strategic investments in cutting-edge blockchain projects. As the Metaverse continues to evolve, investors and users alike stand to benefit from the groundbreaking developments in AI-driven virtual environments.