BUD, a metaverse platform powered by user-generated content, has raised $36.8 million in its second funding round in three months.

⠀

The Singapore-based startup’s Series B funding round was led by Sequoia Capital India, along with China-focused investors — ClearVue Partners, NetEase, and Northern Light Venture Capital. Its existing investors, GGV Capital, Qiming Venture Partners, and Source Code Capital, also participated in the round.

⠀

Founded in 2019 by former Snap engineers Risa Feng and Shawn Lin, BUD is a metaverse platform that allows users to customize their own avatars, create and explore millions of experiences from hangout places to battle royale games, and more.

⠀

The company plans to use the funds to develop its creator tools, grow its user base and take its user experience further by launching a marketplace for NFTs. BUD has yet to share what blockchain the marketplace will be on, but said it will “soon be live.”

⠀

“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.

⠀

For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇