Nikolas Sargeant
Cypher Capital, a multi-strategy crypto investment firm, announced on Monday, September 30th, that it participated in a $12 million private funding round for SecondLive, an AI-powered Web3 open Metaverse.
In a press release shared with Cryptowisser, Cypher Capital said this latest funding round will enable SecondLive to continue its rapid growth by enhancing its innovative AI-generation ability to create virtual spaces for large-scale events and Metaverse infrastructure building. It will also focus on building social networks and supporting creator economic activities.
The funding round, led by Crypto.com and with participation from Spark Digital, MetaEstate, TAISU Ventures, NewTribe Capital, BitValue Capital, Titans Ventures, Newave Capital, and CSP DAO, brought SecondLive’s total financing to $15 million.
According to Cypher Capita, SecondLive is a hub for Metaverse inhabitants, leveraging generative AI to create immersive digital spaces and social experiences. With over 5 million registered users and 1.81 million UGC & AIGC digital assets, the platform covers eight major public chains, including BNB Chain, Ethereum, and TON.
Vineet Budki, CEO of Cypher Capital, stated that,
"SecondLive is revolutionizing the way users interact within digital environments and the Metaverse. They are at the forefront of utilizing AI to create dynamic, user-generated virtual spaces, opening up the future of Web3 to the Metaverse and a variety of applications that align with Cypher Capital’s vision for the future of Web3.”
SecondLive’s use of AI within various social and role-playing scenarios has made it one of the leading projects in the Metaverse. It offers customizable Avatars, explorable virtual spaces, no-code creator tools, and the Scondlive Market for trading digital assets.
XX from SecondLive added that,
"We are thrilled to have Cypher Capital onboard as a key partner. Their expertise within the crypto industry will be invaluable as we continue to grow and innovate our platform for the next wave of Web3 adoption and advancement."
Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, public markets, and Web3.
