Business
The metaverse app ‘BUD’ raises 37 million dollars
Creators talked about their intention to create a marketplace for virtual items in the game
BUD , a growing app that intends to create a metaverse for Gen Z, has raised another round of funding in three months. The Singapore-based startup told TechCrunch portal that it closed $36.8 million in a Series B round led by Sequoia Capital India, after getting a Series A extension in February.
The Series B brought total funding of more than $60 million. New investors joining the round included ClearVue Partners, NetEase and Northern Light Venture Capital with existing investors GGV Capital, Qiming Venture Partners and Source Code Capital.
«While BUD makes 3D content creation possible for mainstream Gen Z consumers, we will continue to bring blockchain to mainstream consumers and allow our creators to truly own and monetize their creations,» said Shawn Lin, BUD co-founder’s in a statement.
As for the company’s new plans, it unveiled a project to introduce a non-fungible token (NFT) marketplace to register blockchain ownership of virtual items sold on BUD. At the moment, the company declined to disclose which blockchain the NFT project will be on or which tokens it will use, but said the marketplace «will soon be active.»
About BUD
BUD is a metaverse user-generated platform, founded by former Snap engineers, Risa Feng and Shawn Lin, Singapore-headquartered BUD is a leading global metaverse UGC platform encouraging users to create and share 3D interactive experiences with its easy-to-use creation tools.
According to Yahoo, BUD is becoming a preferred platform for Gen-Z and Gen-Alpha to socialize in 3D immersive worlds where everyone can produce the kind of content they want to create. In addition to customizing unique avatars, users can also create and explore millions of experiences ranging from hangout places to battle royale games.
