Roehl Niño Bautista · · 1 min readBinance funding boosts metaverse firm’s valuation to $30m
Metaverse platform SecondLive‘s valuation has hit US$30 million after raising an undisclosed amount of seed funding from Binance Labs, the incubator and venture capital arm of cryptocurrency exchange firm Binance, as well as from the US$1 billion fund of Binance Smart Chain (BSC).
Built on the BSC, SecondLive is a social networking-focused metaverse that hosts economic activities from creators. Users have the freedom to create any type of virtual content – from art exhibitions to concert halls – and make money from these creations in the process.
The seed funding will go to SecondLive’s growth acceleration and BSC ecosystem support as it scales to get more enthusiasts onboard.
Photo credit: SecondLive
“Users can experience strong social interactions, space sharing and participation in various real-life experiences, allowing them a second, parallel life in SecondLive,” said Gwendolyn Regina, investment director of BSC Accelerator Fund.
SecondLive is one of the first recipients of BSC’s US$1 billion fund, which was established to boost adoption of digital assets and blockchain technology adoption. The fund recently invested in crypto exchange platform MCDEX.
Meanwhile, Binance Labs has also invested in music-focused crypto platform Melos and blockchain gaming startup Star Sharks.
Editing by Collin Furtado and Lorenzo Kyle Subido
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