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Metaverse News Europe


BUD raises $39 million for Blockchain Metaverse Tools

5/26/2022

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Ex-Snap engineers earn $38.6m to give younger audiences Web3 tools

On Monday, BUD, a Metaverse powered by user-generated content (UGC), raised $38.6 million USD in a Series B funding round led by Sequoia Capital India with help from ClearVue Partners, NetEase and Northern Light Venture Capital.
Investment firms GGV Capital, Qiming Venture Partners and Source Code Capital also provided additional funding assistance, and the awarded capital enables BUD to improve its UGC tools, expand its global user base, introduce in-Metaverse products, and debut an integrated NFT marketplace.
The Bud Metaverse focuses on a Gen Z user base familiar with existing Web3 services such as Roblox, with localisation plans targeting global audiences.
William Chen, Founding Managing Partner of ClearVue Partners, explained that Gen Z demographics were experiencing an “explosive growth” of interest in emerging Metaverse platforms and saw BUD as a leader in the marketplace.
Chen added: “We are excited to work with this innovative team and to bring together our resources and experience in the global consumer, media, and entertainment industries”.
Since BUD’s launch in November 2021, the service has become a top 10 social media application in 38 countries across North America, Southeast Asia, and South America.

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  • Home
  • Photos 2022
    • Videos 2022
  • News
  • Nominations
    • Top Debut in Metaverse
    • Top European Metaverse
    • Top VC/Accelerator/Incubator
    • Top Blockchain Developer Services Provider
    • Top Blockchain Game of the Year
    • Top CVC Partner for Web 3.0/Metaverse
    • Top Corporate Partnership
    • Top Legal Firm or Services for Metaverse/Web 3.0 businesses
    • Top Avatar Design, Digital-Twin, or Identity Company
    • Top Cloud, Enterprise or Technology Partner
    • Top Partner for establishing early-stage presence in Metaverse
    • Most Innovative NFT Project
    • Top 3D Design Firm for Metaverse
    • Top Global City for Web 3.0/Metaverse Ecosystem
    • Top Fashion or Consumer Brand Initiative
    • Top Sports, or Events, Brand Initiative
    • Top B2B or Industrial Initiative in Metaverse
    • Top Wallet, or Digital Payment, ecosystem
    • Most Exciting StartUp or Early-stage Company
    • Top XR/AR/VR Firm for Metaverse
    • Top Consumer Hardware or Interface for Metaverse/Web 3.0
  • The Event
    • Agenda
    • VIP Jury
    • Brella Event App & Networking
    • Venue
    • Hotel Reservation
    • FAQs
    • Tickets
      • Pay via Credit Card
  • Contact