Futureverse, a company focused on the development of Artificial Intelligence (AI) and metaverse technologies to be used in the gaming industry, recently closed a $54 million Series A funding round, led by 10T Holdings, a late stage growth equity fund. Ripple also participated in the round. Futureverse plans to use the funds towards initiatives related to scaling AI and metaverse technologies.
The partnership between 10T and Ripple is expected to take the metaverse from an abstract concept to an interactive and accessible destination. Futureverse’s goal is to become the world’s largest metaverse AI technology provider, layer 1 architect and creative studio. To achieve this, they have integrated 11 startups into one ecosystem, including Altered State Machine, Non-Fungible Labs, Sylo, Centrapay and others.
Futureverse has also partnered with FIFA to launch an AI-powered consumer game called AI League, as well as Muhammad Ali Enterprises to create “Muhammad Ali – The Next Legends”, the first ever AI-powered boxing game.
The Root Network, a blockchain and suite of protocols, will be integrated with Ripple’s XRPL, allowing XRP to be used as a gas token and the XLS-20 NFT standard. Monica Long, President of Ripple, commented on the project:
“We are excited to continue to support the Futureverse vision and celebrate the Root Network’s integration with the XRP Ledger. While we’re at the earliest stages of what a project like this — and really the larger concept of the metaverse — can achieve, we at Ripple are thrilled to contribute to the foundational infrastructure layer and provide real utility to the end users of the open metaverse.”