Binance Invests another $5m in Metaverse Startup Ultiverse

Binance is putting in a fresh $5 million investment in metaverse gaming startup Ultiverse after leading a $4.5 million seed investment a week earlier for the firm.

The previous seed investment was announced in a blog post by Binance Labs, the venture capital arm and innovation incubator of Binance, on March 18.
The raise was co-led by DeFiance Capital, and Three Arrows Capital and SkyVision Capital also invested.
The initial $4.5 million raise was done by selling Ultiverse’s governance token MXS.
However, according to both companies, Binance’s $5 million will be invested in the equity of Ultiverse.
Additional investments have also been made to create …

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