Binance doubles down on UltiverseDAO with another $5 million investment (via RyanJamesWeeks)
Now, the crypto exchange’s venture arm is doubling down with a $5 million investment in the startup’s equity.One week after leading a $4.5 million seed investment in Ultiverse, Binance’s venture arm is betting another $5 million on the metaverse gaming startup.
But now Binance Labs has chosen to invest another $5 million in the equity of Ultiverse, according to both companies. Nicole Zhang, director at Binance Labs, told The Block that the additional investment was made to ensure the firms are “bonded in a way that we have some sort of a say in terms of the team’s future path.”After the initial seed round was announced, Binance Labs stated that the proceeds would go towards building a social gaming metaverse with BNB Chain.