Metaverse platform BUD raises another $37M, plans to launch NFTs
- ByStartupStory | May 23, 2022
Singapore based startup designed by former snap engineers Risa and Shawn Lin aims to provide a metaverse for Gen Z to play and communicate with each other in a setup fabricated according to their choice. Climbing up a stage, BUD has shown interest in introducing Non Fungible Token (NFT) in the marketplace.
The trending and one of the top 10 apps in countries like North America ,South America and South east Asia has reportedly closed $36.8 million in a Series B round chaired by Sequoia Capital India, soon after it secured a Series A extension in February. The new infusion brings BUD’s total financing to over $60 million.
The self designed accessories, costumes virtual assets for the characters has been recorded to have shared more than 150 million times in the marketplace, which if intended to charge commissions can generate huge revenue.
It enables users to create characters, virtual assets without any coding background.The ad-free , free to use and not monetizing in any way through the app has made it very popular among the directed generation.
“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 Lin in a statement. Launching NFT’s would record the owned items being sold on Blockchain.
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