NFT News: Futureverse has raised $54 million in investment
Futureverse, a startup at the forefront of AI and metaverse technology and content development, has successfully completed its Series A funding round. The company officially announced this on its social media on July 18. Recall that Futureverse is the founder of the large-scale NFT collection FLUF World.
The company managed to raise $54 million. The round was led by 10T Holdings, LLC (“10T”), and Ripple also participated in it. It is worth noting that during a bear market, such an event can be considered extraordinary, as NFT projects are having some difficulty finding investors, especially among venture capital funds.
We are incredibly excited to announce that we’ve closed our $54M Series A round led by @10Tfund, with participation from @Ripple to scale our AI and metaverse technologies. pic.twitter.com/zOUI65c2X8
— Futureverse (@futureverse) July 18, 2023
Grand plans of Futureverse startup
NFT fans know Futureverse as the creator of FLUF World NFT collection and AI League, a mobile soccer game licensed from FIFA. The company plans to use the $54 million from the funding round to further develop its integrated technologies. In particular, the funds will be used to enhance the “Powered By Futureverse” tools and products of Futureverse Platform, as well as to support The Root Network blockchain, which provides opportunities for creating metaverse applications and games.
Alongside our platform, we’ve developed @TheRootNetwork, which is far more than just a blockchain. Our suite of protocols are equipped with ready-made runtimes for building the next-generation of internet experiences. pic.twitter.com/UERrfrgYSi
— Futureverse (@futureverse) July 18, 2023
Futureverse aims to transform the metaverse from a conceptual idea into an exciting and accessible world for all. To do so, the company has enlisted the help of established players such as 10T and Ripple. In particular, the collaboration with Ripple has enabled the integration of The Root Network with XRPL, the use of XRP as a GAS token, and support for the XLS-20 NFT standard.
Our partnership with @Ripple has @TheRootNetwork integrated with XRPL and supports the use of #XRP as a GAS token as well as the XLS-20 NFT standard. pic.twitter.com/9oJYAvMlbc
— Futureverse (@futureverse) July 18, 2023
The startup’s global goal comes down to combining AI and blockchain to organize the infrastructure of the metaverse.
Futureverse and the new digital world
The team behind Futureverse has no doubt about the huge potential of the metaverse.
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. In order to reach this potential, the metaverse requires open, scalable, and interoperable infrastructure. Startup co-founders Aaron McDonald and Shara Senderoff say
