By Allison Watkinson
TLL Reporter
The AI and metaverse startup company Futureverse has announced the close of its Series A funding round with $54 million dollars raised in total.
The Series A funding round was led by the growth equity fund 10T Holdings and included participation from the Ripple blockchain network.
“The metaverse has the potential to transform the way humans engage and collaborate with one another and improve our experiences across a number of different spheres, including gaming, payments, asset management, and more,” said Futureverse co-founders, Aaron McDonald and Shara Senderoff. “In order to reach this potential, the metaverse requires open, scalable, and interoperable infrastructure. Futureverse combines next-level technological infrastructure and AI-driven content to create the open metaverse we all envision. With the help of our tremendous partners 10T and Ripple, we are excited to take the metaverse from an abstract idea to a tangible, accessible, and interactive destination.”
Founded in 2022, Futureverse is a result of the consolidation of 11 different metaverse infrastructure and content organizations into one collaborative company.
Futureverse will use the proceeds from the funding round to continue developing the company’s portfolio of metaverse development technology.
This includes its Futureverse Platform, featuring proprietary Powered By Futureverse tools and products, the Root Network blockchain and protocols suite, proprietary AI content generation tools, and more.
The Root Network provides ready-made runtimes for building metaverse apps, games and experiences. The company’s technology platform also features an extensive suite of AI content generation tools designed to enhance the music, objects, characters and animations in the metaverse.
“Futureverse has developed an immersive and vertically-integrated metaverse platform that acts as an AI technology provider, metaverse infrastructure builder, layer 1 architect, creative studio, and digital community all-in-one,” said 10T CEO, Dan Tapiero. “We look forward to supporting Aaron and his experienced team as they continue to achieve significant real-world commercial traction and scale Futureverse’s capabilities and offerings.”
Futureverse delivers the essential components for constructing any metaverse application, while forming one of the world’s largest metaverse communities powered by digital collectibles.
“We are excited to continue to support the Futureverse vision and celebrate the Root Network’s integration with the XRP Ledger,” said Ripple president, Monica Long. “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.”
In the last year, Futureverse has formed global licensing partnerships with organizations and brands such as FIFA, Authentic Brands Group (ABG), Mastercard, Wimbledon, Death Row Records, Wētā Workshop, Snoop Dogg, Timbaland, Keanu Reeves and Alexandra Grant to develop apps, games, experiences, NFTS, and digital collectibles.
Developers and users interested in joining the Futureverse community can learn more by visiting the company’s official website.
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