Futureverse Raises $54 Million to Fuel Expansion of Diversified Metaverse Platform
Futureverse, a crypto tech and gaming startup, has secured $54 million in Series A funding to support its expansion in the metaverse space.
The funding round was led by venture capital firm 10T Holdings, with participation from Ripple Labs, the creator of XRP Ledger, the company said in a recent press release.
Futureverse said it plans to use the funds for research and development purposes, as well as to advance its gaming-focused blockchain, called The Root Network.
The Root Network is compatible with the Ethereum Virtual Machine and incorporates XRP Ledger integration, allowing users to utilize XRP and its non-fungible tokens (NFTs).
Additionally, Futureverse has plans to develop more blockchain games in the future.
"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," Aaron McDonald and Shara Senderoff, co-founders of Futureverse, said in a statement.
Futurevese is a platform of 11 companies that range from gaming studios and entities that enable web3 payments to blockchain startups providing the tools for brands and builders to more easily create content for the metaverse.
The company was formed through the merger of eight companies in late 2022 and has since assimilated three more.
The overarching goal of Futureverse is to combine artificial intelligence (AI) and blockchain technology to establish the infrastructure necessary for a seamless metaverse experience.
Futureverse has already launched two sports-related games.
In April, they released World Cup AI League, a mobile soccer game for Android and iOS that incorporates AI-powered gameplay.
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