SecondLive Raises at $30M Valuation in the Seed Round to Build Social Metaverse

SINGAPORE, Nov. 2, 2021 /PRNewswire/ -- SecondLive the Binance Smart Chain(BSC)-based metaverse platform has secured funding from BSC's $1B Growth Fund along with Binance Labs, the venture capital and incubator of Binance to scale the platform for mass adoption and drive its growth globally.

SecondLive is a diversified metaverse focused on building social networks and supporting creator economic activities. Within the metaverse, users can craft their own digital lives -- creating their own avatars and choosing spaces to stay and to live. In different spaces like virtual exhibitions, personal spaces, art galleries, game rooms, and concert rooms, users can complete different tasks with avatars. These avatars help creators and users make their own content and profit from their own creations.

"Through the spaces on 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 Binance Smart Chain (BSC) Accelerator Fund. "SecondLive is one of the first projects to receive funding from the $1 Billion Growth Fund. We believe in the long-term potential of metaverse projects, and have paid close attention to what SecondLive has enabled and plan to support it further," she added. 

With the funding, SecondLive will accelerate the growth of the platform and support the BSC ecosystem by advancing its metaverse's functionalities. The project will scale to acquire masses of general users, gamers, and crypto-enthusiasts.

Investment Director of Binance Labs, Chase Guo, said: "Just like the internet tore down barriers and connected users online to create content and get incentivized for it; we believe that metaverse will enable the next generation of the Web will accelerate the growth of the entire crypto space."

Along with BSC and Binance Labs a few notable market players like ArkStream Capital, Bullet Labs, GBV Capital, LucidBlue Ventures, Magic Ventures, Multiplex Ventures, Old Fashion Research, Pow Rise Capital, SEJO Asset, and Yuanyuzhou Ventures have also provided support in terms of funding to SecondLive.

SOURCE Binance Smart Chain