Singapore and Saudi Arabia-based AI company BuzzAR is teaming up with Cypher Capital, a leading venture capital firm, to create disruptive AI+LBS Web3 location-based game projects with $1 million seed investment.
The partnership will allow the companies to leverage proprietary generative AI technologies on its Metaport, a portal that turns human faces to avatars in real-time, to create a decentralised social graph. With leading retail holdings, hospitality partners, and tourism government collaborations in Singapore and Saudi Arabia, BuzzAR is poised to reshape the gaming landscape.
On the announcement, Founder of BuzzAR, Bell Beh, commented: "We are delighted to be partnering with Cypher Capital to propel BuzzAR’s LBS Metaverse project, Project ‘DSpace’. Our goal is to provide an integrated Metaverse solution tailored to the unique needs and aspirations of these countries, and we believe that our collaboration with Cypher Capital is the perfect opportunity to do so."
Diverse Metaverse solution
She added: “In support of Saudi Arabia's national tourism strategy and other regional strategic plans, Project DSpace will provide an immersive and culturally diverse Metaverse solution that is expected to bring merchants and users together in a revolutionary new way.”
Bill Qian, Chairman of Cypher Capital Group, the lead investor on ‘DSpace’, said: “We are thrilled to support this ground-breaking joint initiative by BuzzAR and some of our gaming portfolios. As the lead investor in this project, we believe that 'DSpace' has the potential to revolutionize the gaming industry and pave the way for new opportunities in the AI+LBS Web3 Metaverse. I am more confident than ever before that our commitment to creating an immersive and culturally diverse Metaverse will not only bolster tourism and economic growth in the Middle East but also foster global connectivity and collaboration. We stand at the forefront of this exciting new era, and I eagerly anticipate the transformative impact Dspace will have on our world."-- TradeArabia News Service