Futureverse has successfully raised $54 million in Series A funding to propel its metaverse goals. The funding round was led by venture capital firm 10T Holdings, with participation from Ripple Labs, the creator of XRP Ledger. Let’s dive in!
TL;DR:
Futureverse: Funding the Next Evolution of the Metaverse with Exclusive AI Tools!
Futureverse, a startup focused on crypto tech and gaming, plans to utilize the funds for research and development. Futureverse’s technology platform features a collection of exclusive AI content generation tools, specifically designed to enhance music, objects, characters, and animations that will eventually form part of the metaverse. It also plans to expand its gaming-focused blockchain known as The Root Network. Markedly, this blockchain is Ethereum Virtual Machine-compatible and incorporates XRP Ledger integration, supporting the usage of XRP and its NFTs. Futureverse also envisions the creation of more blockchain games in the future.
Having acquired eight crypto companies, Futureverse merged them under its brand. Significantly, it aims to establish an “open metaverse.” Notable acquisitions include AI technology firm Altered State Machine and the Non Fungible Labs, known for the Fluf World NFT project.
Among Futureverse’s game releases, they launched World Cup AI League. This is a FIFA-licensed mobile soccer game driven by artificial intelligence for Android and iOS. Although it doesn’t feature real soccer stars, the game provides vibrant, cartoonish characters controlled by AI.
Furthermore, Futureverse introduced Muhammad Ali: The Next Legends. Significantly, this is an AI game with NFTs developed in partnership with the late boxer’s estate. In this fantasy boxing game, players serve as coaches and make strategic choices for their boxers. Additionally, an accompanying “AI Brain” NFT powers each boxer NFT and governs their behaviour.
10T Holdings and Ripple Lead the Charge
Venture capital firm 10T Holdings took the lead in the funding round for Futureverse. Notably, they were joined by Ripple. 10T CEO and Chief Investment Officer, Dan Tapiero, praised Futureverse for creating an all-encompassing metaverse platform. Significantly, it covers AI technology, metaverse infrastructure, layer-1 architecture, creative studio, and digital community.
While skepticism still surrounds the concept of the metaverse, Futureverse’s fundraising reflects its commitment to the vision. Notably, Ripple Labs President Monica Long expressed her enthusiasm for Futureverse’s project. She highlights the early stages of what such a metaverse could achieve and Ripple’s eagerness to contribute to the foundational infrastructure layer, providing utility to end-users.
Ultimately, Futureverse is committed to combining advanced technological infrastructure with AI-powered content creation. Thus, paving the way for the realization of the open metaverse that everyone envisions. Benefiting from the partnership with its formidable allies, 10T and Ripple, Futureverse strives to transform the metaverse from a conceptual idea into a practical, user-friendly, and engaging destination for all.
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