Software and Services

Metaverse company gets $54 million in funding

18 July 2023

Don’t count out the metaverse just yet as Futureverse, a company developing artificial intelligence and metaverse technology, has secured $54 million in funding to grow its interoperable content and applications in the virtual space.

Futureverse’s technology includes a suite of AI content generation tools designed to enhance the music, objects, characters and animations for the metaverse. The company has about 11 metaverse infrastructure and content companies into one ecosystem and components for constructing any metaverse application.

The company said the funding will be used to develop new tools and products such as The Root Network, a blockchain and suite of protocols with ready-made runtimes for metaverse apps, games and other virtual experiences. In a partnership with Ripple, The Root Network is integrated with XRPL and supports the use of XRP as a GAS token as well as XLS-20 NFT standard.

"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 Aaron McDonald, co-founder of Futureverse. “In order to reach this potential, the metaverse requires open, scalable, and interoperable infrastructure.”

Futureverse is working with brands on metaverse applications such as FIFA, Authentic Brands Group, Mastercard, Wimbledon, Death Row Records, Wētā Workshop, Snoop Dogg, Timbaland, Keanu Reeves and Alexandra Grant.

To contact the author of this article, email GlobalSpecEditors@globalspec.com


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