Futureverse, a collective of 11 metaverse infrastructure and creative content firms, has secured $54 million USD in Series A funding to develop an AI-powered metaverse ecosystem. Led by 10T Holdings LLC, the funding round also saw participation from Ripple, a major cryptocurrency platform. The company aims to support developers and end users in creating and experiencing creative content across the Metaverse, with a focus on gaming, music, animations, and other forms of entertainment.
Since its launch last year, Futureverse has become one of the largest metaverse communities in the world. The company has leveraged artificial intelligence (AI) to develop hit gaming titles and digital collectibles. It recently partnered with Muhammad Ali Enterprises’ intellectual property rights holders, Authentic Brands Group, to release the game “Muhammad Ali – The Next Legends.” Additionally, Futureverse has established collaborations and strategic partnerships with organizations such as Wimbledon, Death Row Records, Mastercard, Snoop Dogg, Keanu Reeves, Timbaland, and Alexander Grant.
The funding will be used to expand the development of Futureverse’s technologies, including the Futureverse Platform, which utilizes The Root Network blockchain and a suite of protocols to create metaverse games and immersive experiences. Through its partnership with Ripple, Futureverse plans to integrate XRPL and Ripple’s native XRP as both a GAS token and XLS-20 standard for creating non-fungible tokens (NFTs).
Key contributors to Futureverse’s development include metaverse pioneer Aaron McDonald, tech and entertainment investor Shara Senderoff, technology and information security expert Marco Brondani, and co-founder Dan Gillespie. McDonald and Senderoff believe that the metaverse has the potential to transform human engagement and collaboration across various platforms.
Dan Tapiero, Chief Executive and Chief Investment Officer of 10T, praised Futureverse for creating an immersive and vertically-integrated AI metaverse platform. Monica Long, President of Ripple, expressed excitement about contributing to the foundational infrastructure layer of the metaverse.
This announcement follows the partnership between Lamina1 and metaverse platform forerunners Croquet, Qualcomm, and Mira. Lamina1 aims to develop Web3 metaverse tools and content using Layer-1 blockchain technologies.
As the metaverse continues to gain momentum, companies like Futureverse and Lamina1 are laying the groundwork for an interconnected and immersive digital universe that could revolutionize the way we engage with technology, entertainment, and each other.