• Ripple invested in the $54 million series A round for Futureverse, a company leveraging artificial intelligence (AI) and metaverse technology.
• 10T Holdings led the funding round, which Futureverse says will go into scaling AI and metaverse technologies.
• Ripple plans to use XRP as gas token to integrate with Futureverse blockchain The Root Network.
Ripple Invests in AI-Metaverse Firm Futureverse
Ripple has invested in a $54 million series A round for Futureverse, an artificial intelligence (AI) and metaverse technology firm that is looking to scale its operations. 10T Holdings led the funding round, with Ripple also participating. As part of the investment, Ripple plans to use XRP as a gas token for integration with Futureverse’s blockchain The Root Network.
Futureverse has ambitions to become the world’s largest metaverse AI technology provider, layer 1 architect and creative studio. To this end it has quietly acquired 11 startups that form part of its collaborative ecosystem for the metaverse. These include AI-protocol Altered State Machine, creative studio Non-Fungible Labs, decentralized communications protocol Sylo, and digital asset payments SDK Centrapay. The company recently partnered with FIFA to launch an AI-powered consumer game called AI League and Muhammad Ali Enterprises on an AI-powered boxing game called “Muhammad Ali – The Next Legends”.
Partnership with Ripple
In addition to other key collaborations, Futurever is planning to leverage blockchain tech via the integration of its The Root Network and Ripplle’s XRP as a gas token.. This partnership is expected to help power growth in the gaming industry by making the idea of a metaversed more accessible and interactive destination.
10T Holdings‘ Investment
10T Holdings investment was focused on initiatives targeted at scaling both AI and metaverses technologies such as tools that support open interoperable infrastructure., They believe that this partnership is set up well for success due their experience in late stage growth equity fund investments combined with Ripple’s commitment towards supporting innovation in gaming industry through blockchain technologies .
The successful closing of $54 million series A funding round shows great potentials for Futureverse especially given their various partnerships with some large firms such as FIFA & Muhammad Ali Enterprise . With 10T Holding & Ripple onboard , we expect them will continue pushing boundaries within this space using cutting edge technology .