Cypher Capital Participates in $12 Million Funding Round for SecondLive

Cypher Capital, a crypto investment firm, has joined a $12 million private funding round for SecondLive, an AI-driven Web3 open Metaverse platform. The announcement was made on Monday.

The funding round was spearheaded by Crypto.com, with contributions from Spark Digital, MetaEstate, TAISU Ventures, and other investors. This latest financing introduces a total of $15 million in funding for SecondLive.

SecondLive employs generative AI to develop virtual spaces and social experiences within the Metaverse. The funds raised will be used to enhance the platform’s infrastructure for large-scale events, broaden social networks, and support economic activities for creators.

With over 5 million registered users and 1.81 million digital assets created by users and AI, the platform integrates across eight major blockchain networks.

“We are excited to welcome Cypher Capital as a key partner,” stated SecondLive. “Their extensive expertise in the crypto industry will be critical as we continue to advance and expand our platform for the next phase of Web3 adoption.”

In 2021, SecondLive was valued at $30 million following an undisclosed amount of seed funding from Binance Labs, along with support from Binance Smart Chain’s substantial fund.

“SecondLive is transforming user interaction in digital environments and within the Metaverse,” said Vineet Budki, CEO of Cypher Capital. “They are pioneering the use of AI to create dynamic, user-driven virtual spaces, paving the way for the Metaverse and various applications aligned with Cypher Capital’s vision for the future of Web3.”

Cypher Capital supports early-stage blockchain projects by providing both funding and strategic assistance. The firm concentrates on DeFi, NFTs, infrastructure, and Web3 initiatives, focusing on projects that promote blockchain adoption.

With a global reach, Cypher Capital offers comprehensive support that includes financial tools, market insights, and consulting. Its investment portfolio features projects such as Ton, Berachain, Sei Network, and zkPass, among others.