Cypher Capital Participates in $12M Funding Round for SecondLive - Chainwire

30Sep

Cypher Capital Participates in $12M Funding Round for SecondLive

Dubai, UAE, September 30th, 2024, Chainwire

Cypher Capital, a multi-strategy crypto investment firm, today announced its participation in a $12 million private funding round for SecondLive, an AI and XR Social Nexus. This latest funding will allow SecondLive to continue its rapid growth, supported by Cypher Capital’s investment, by enhancing its innovative AI-generation ability to create virtual spaces for large-scale events and spatial web infrastructure building, as well as focusing on building social networks and supporting creator economic activities.

The funding round was led by Crypto.com, with additional contributions from Spark Digital, MetaEstate, TAISU Ventures, NewTribe Capital, BitValue Capital, Titans Ventures, Newave Capital, and CSP DAO, bringing SecondLive’s total financing to $15 million.

SecondLive is the leading AI and XR Social Nexus, using GenAI to craft virtual autonomous worlds for crypto enthusiasts, creators, AI fans, and business partners across Web2 and Web3. 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.

“SecondLive is revolutionizing the way users interact within digital environments and the spatial web,” said Bill Qian, Chairman 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 spatial web and a variety of applications that aligns with Cypher Capital’s vision for the future of Web3.”

The platform’s use of AI within various social and role-playing scenarios has positioned SecondLive at the forefront of innovation in the spatial web, offering customizable Avatars, explorable virtual spaces, no-code creator tools, and the Secondlive Marketplace for trading digital assets. With its expansive user base and robust technological framework, the platform can lead the next wave of advancements in digital identity and asset creation.

“We are thrilled to have Cypher Capital onboard as a key partner,” said Olivia Gnemil, CMO of 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.”

About SecondLive

SecondLive is a dynamic AI and XR social nexus, connecting over 1 million users to explore self-expression, creativity, and build a parallel digital universe. Supported by Binance Labs, the SecondLive team specializes in creating large-scale virtual spaces and developing the infrastructure for the spatial web. With a focus on GenAI content, SecondLive is on a mission to build an open Web3 spatial web capable of serving up to 1 billion users.

About Cypher Capital

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.