Cypher Capital Invests in SecondLive

Investing.com – Crypto investment firm Cypher Capital has participated in a $12 million private funding round for SecondLive, a Web3 open Metaverse platform powered by artificial intelligence, the company said on Monday.

The funding was led by Crypto.com, with additional contributions from Spark Digital, MetaEstate, TAISU Ventures, and other investors. This latest financing brings SecondLive’s total funding to $15M.

SecondLive utilizes generative AI to create virtual spaces and social experiences in the Metaverse. The new funds will be used to:
– Upgrade infrastructure for large-scale events
– Expand social networks
– Support creator economic activities

The platform has over 5 million registered users and 1.81 million digital assets generated by users and AI. It operates across eight major blockchain networks, including BNB Chain, Ethereum, and TON.

“We are thrilled to have Cypher Capital onboard as a key partner,” said SecondLive. “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.”

In 2021, SecondLive was valued at $30M after securing an undisclosed amount of seed funding from Binance Labs and further support from Binance Smart Chain’s $1 billion fund.

“SecondLive is revolutionizing the way users interact within digital environments and the Metaverse,” added Vineet Budki, CEO of Cypher Capital. “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 various applications that align with Cypher Capital’s vision for the future of Web3.”

Cypher Capital backs early-stage blockchain projects with both funding and strategic support, focusing on areas such as DeFi, NFTs, infrastructure, and Web3. They prioritize projects that encourage blockchain adoption.

With a global network, Cypher Capital provides a wide range of support including financial tools, market insights, and consulting. Their portfolio includes investments in projects like Ton, Solana, Sui, Berachain, Sei Network, and zkPass, among others.