Futureverse Nets $54 Million in Series A Round to Pursue Metaverse

Cryptocurrency tech and gaming firm Futureverse confirms raising $54 million in Series A round to finance its metaverse pursuit. The startup firm leveraged the input of venture capital firm 10T Holdings to lead the round. 

Ripple Labs Participates in Futureverse Series A Funding

The fundraiser of the crypto tech startup attracted the participation of San Francisco-headquartered Ripple Labs – the creator of XRP Ledger. Futureverse clarified it intends to utilize the funds towards funding research and development projects. Also, the firm will allocate a portion of the funds towards financing the gaming-specific blockchain – The Root Network. 

The platform identifies the game-focused blockchain as one offering XRP Ledger integration and compatible with the Ethereum Virtual Machine (EVM). Futureverse detailed that Root Network is intended to support XRP usage alongside NFTs. The company restated plans to build more blockchain-based games in the future.  

The Futureverse executive lauded various investors’ input in the Series A round. Nonetheless, the representative declined the request to disclose their identities. 

The fundraising came following the December revelation that Futureverse secured eight crypto firms. 

Futureverse Develops AI-powered World Cup League Game

The announcement indicated they assembled them within the Futureverse brand, intending to deliver an open metaverse. Among the firms merged under the Futureverse brand are Non-Fungible Labs behind the Fluf World NFT creation and artificial intelligence (AI) Altered State Machine. 

The Futureverse confirmed rolling 11 firms into the brand. Recently, the brand unveiled two sports-related games. In particular, it leveraged AI in powering the gameplay for World Cup AI League launched in April. The mobile-based soccer is a FIFA-licensed game compatible with Android and iOS systems. 

Although the game lacks famous human faces in real-world football, it features colorful cartoon characters that rely upon AI-powered control for movement. The Futureverse spokesperson lauded the World Cup game as witnessing widespread adoption, with over 50000 downloads realized on Android. He was noncommittal on the download in iOS since the game launched last week. 

Futureverse Unveils AP-powered The Next Legends Game

The Futureverse executive lauded the contribution of the developers behind the AI-powered game that accommodates Muhammad Ali NFTs. The product includes The Next Legends, released through support granted by the estate of the iconic later boxer. 

The Next Legends game features fantasy boxing allowing the players to become the coach. The player should offer strategic choices guiding the boxer during the matches. The developers reiterated that each boxer NFT requires pairing with the ‘AI Brain’ NFT to power towards the desired behavior.

10T chief executive Dan Tapiero lauded the milestone realized by Futureverse in developing immersive yet vertically-integrated metaverse infrastructure acting as the AI tech provider. The executive acknowledged Futureverse’s achievements in delivering a creative studio, metaverse infrastructure builder, and layer-1 architect alongside the vibrant digital community. 

Meanwhile, Mythical Games chief executive John Linden predicts that major publishers of traditional games will embrace the blockchain space. He anticipates that blockchain-based games will quickly scale. Such is demonstrated in the recent moves by EA Sports and Epic Games behind Fortnite creation in quickly integrating the NFT platform offered by Nike. 

Futureverse Dissaproves Skepticism of Metaverse Concept

The successful funding round realized by Futureverse defies the broader skepticism propelled by the perception of a weakening hype for the metaverse concept. The sizable raise indicates that the immersive future internet is viable despite the divestment admitted by social media giant Meta. The US-based company discarded the metaverse plans, prompting speculators to confirm the death of the much-hyped metaverse concept.

Ripple Labs president Monica Long disapproves of writing off the metaverse future and instead affirms belief in the Futureverse vision. The executive indicated that though the company is still in its infancy phases, its achievements show the metaverse concept is viable. 

Long affirmed Ripple’s devotion to contributing to the foundational infrastructure layer. He considered the involvement of Ripple in providing real utility to the end users, thus scaling the open metaverse.

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.