Ripple invests $54M in AI-metaverse firm Futureverse.

Ripple invests $54M in AI-metaverse firm Futureverse.

The Growing Influence of Futureverse in the Blockchain Industry

Futureverse, a company at the forefront of leveraging artificial intelligence (AI) and metaverse technology to advance growth in the gaming industry, has recently closed a significant $54 million series A funding round. This funding round, led by 10T Holdings, a leading late-stage growth equity fund, has also attracted the participation of Ripple, a major player in the blockchain industry. The funds raised will be used to scale AI and metaverse technologies, further solidifying Futureverse’s position as a key player in this emerging field.

Building an AI-Metaverse Ecosystem

Futureverse aims to become the world’s largest metaverse AI technology provider, layer 1 architect, and creative studio. With a vision of creating an open, scalable, and interoperable infrastructure, the company has strategically formed partnerships and acquired 11 startups to build a collaborative ecosystem for the metaverse. Some of these companies include Altered State Machine, a leading AI protocol; Non-Fungible Labs, a creative studio; Sylo, a decentralized communications protocol; and Centrapay, a digital asset payments SDK.

Through these partnerships, Futureverse is actively working towards cultivating a leading metaverse community, particularly in AI gaming powered by digital collectibles. In fact, the company has recently partnered with FIFA to launch an AI-powered consumer game called AI League. Additionally, Futureverse has teamed up with Muhammad Ali Enterprises to develop “Muhammad Ali – The Next Legends,” the first-ever AI-powered boxing game. These collaborations solidify Futureverse’s position as an innovator in the metaverse and gaming industries.

Embracing Blockchain Technology through Partnerships

In addition to its numerous collaborations, Futureverse is exploring the benefits of blockchain technology through its integration with The Root Network and Ripple’s XRPL (XRP Ledger). The Root Network is a blockchain and suite of protocols that offer ready-made runtimes, enabling developers to build next-generation metaverse apps and games. This integration allows for the use of XRP as a gas token and introduces the XLS-20 NFT standard.

Ripple’s involvement in this partnership is significant for Futureverse. Ripple has invested in Futureverse’s $54 million series A funding round, demonstrating its belief in the company’s vision. Furthermore, Ripple’s integration with The Root Network and XRPL brings added credibility to Futureverse’s initiatives and underscores the importance of blockchain technology in the metaverse ecosystem.

Monica Long, President of Ripple, expressed excitement about the Futureverse vision and the integration with the XRP Ledger, emphasizing the potential of this project and the broader concept of the metaverse. Long highlighted Ripple’s commitment to contributing to the foundational infrastructure layer and providing real utility to end-users in the open metaverse.

Conclusion

Futureverse’s recent funding round and partnerships with industry leaders like Ripple highlight the growing influence of the company in the blockchain industry. As Futureverse continues to scale AI and metaverse technologies, it aims to transform the abstract idea of the metaverse into a practical, accessible, and interactive destination. With its innovative AI-metaverse ecosystem and strategic partnerships, Futureverse is well-positioned to shape the future of the gaming industry and the broader metaverse landscape.