3D social network BUD raises $36.8 million for the Metaverse ecosystem

Gaming platform Bud raised $36.8 million in a Series B round led by Sequoia Capital India.

BUD plans to launch NFT

This is a “metaverse” platform that encourages users to create and share interactive 3D experiences. Choose your own unique avatar from thousands of combinations. You even have the chance to design your own outfits from scratch. An easy-to-use mobile creation tool that requires no prior coding knowledge.

BUD, a gaming platform powered by user-generated content, has raised $36.8 million in a Series B round led by Sequoia Capital India. With this raised capital, the NFT and MAP markets are also about to be launched by BUD.

ClearVue Partners, NetEase, and Northern Light Venture Capital also participated in the round, along with existing investors GGV Capital, Qiming Venture Partners, and Source Code Capital, this platform said in a statement on May 24.

After closing this funding round brought the total financing of this project to more than 60 million dollars.

Founded by former Snap engineers Risa Feng and Shawn Lin in 2019, it allows users to create 3D onion-shaped characters, cute virtual assets, and colorful experiences through dragging and dropping and without any coding background.

BUD says more than 15 million experiences and 3D content have been created on the platform. User-generated 3D content has been traded over 150 million times.

The platform, which declined to reveal which chain the NFT project will be on or what token it will use, is the latest in a string of firms to say it will hit the NFT market as it looks to expand.

“While BUD helps create 3D content for Gen Z consumers, we will continue to bring blockchain to the average consumer and allow our creators to own and monetize their creations truly their creation.”

Shawn Lin said in a statement.

The company is rapidly expanding and has a staff of 130 spread across its headquarters in Singapore and offices in Shenzhen and the US.

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