Cypher Capital Fuels SecondLive with $12 Million to Expand AI Metaverse Capabilities

Cypher Capital invests in SecondLive’s $12 million round, enhancing AI-driven virtual environments for the Metaverse.
SecondLive supports major public chains and has amassed over 5 million users and 1.81 million digital assets.

On September 30, 2024, Dubai’s Cypher Capital confirmed its investment in a $12 million private funding round for SecondLive, an AI-driven Web3 open Metaverse platform. This funding will support SecondLive’s enhancements in artificial intelligence, essential for developing extensive virtual spaces tailored for large-scale events and Metaverse infrastructure.

Leading the investment round was Crypto.com, along with contributions from Spark Digital, MetaEstate, TAISU Ventures, NewTribe Capital, BitValue Capital, Titans Ventures, Newave Capital, and CSP DAO. This round increased SecondLive’s total capital to $15 million.

SecondLive operates as a central platform within the Metaverse, employing generative AI to create immersive digital spaces and social experiences. The platform supports a variety of major public chains, including BNB Chain, Ethereum, and TON, and it has registered over 5 million users with 1.81 million digital assets created by users and AI.

Vineet Budki, CEO of Cypher Capital, commented on the investment:

“SecondLive utilizes artificial intelligence to dynamically generate user-centric virtual environments, supporting our vision for the Web3 ecosystem and its applications.”

The platform’s use of AI in creating diverse social and role-playing scenarios positions SecondLive as a pioneer in Metaverse innovation. It offers customizable avatars, expansive virtual environments, tools for creators that require no coding, and the SecondLive Market for digital asset transactions. With a substantial user base and advanced technology, SecondLive is poised to drive the next wave of digital identity and asset creation innovations.

A representative from SecondLive expressed appreciation for the partnership:

“Cypher Capital’s deep knowledge in the crypto industry is invaluable as we aim to broaden and enhance our platform, aligning with the evolving landscape of Web3 technology and its adoption.”

Cypher Capital is a leading venture firm focusing on early-stage investments in Web3 infrastructure and applications that are transforming the digital economy. Guided by principles of environmental, social, and governance criteria, Cypher Capital is committed to advancing digital currency, public markets, and the broader Web3 environment.