Ripple has made an investment in the $54 million series A funding round for Futureverse, a company that utilizes artificial intelligence (AI) and metaverse technology to drive growth in the gaming industry. 10T Holdings led the funding round, and Futureverse plans to use the funds to scale its AI and metaverse technologies. As part of the investment, Ripple has integrated Futureverse’s blockchain, The Root Network, and XRP will be used as the gas token.

Futureverse’s AI-Metaverse Ecosystem

Futureverse aims to become the world’s largest provider of metaverse AI technology, layer 1 architect, and creative studio. The company has rolled up 11 startups into its ecosystem, which is currently one of the largest collaborative ecosystems for the metaverse. Some of the companies included in the ecosystem are AI-protocol Altered State Machine, creative studio Non-Fungible Labs, decentralized communications protocol Sylo, and digital asset payments SDK Centrapay. Futureverse recently partnered with FIFA to launch an AI-powered consumer game called AI League and has a partnership with Muhammad Ali Enterprises to create an AI-powered boxing game.

Partnership with The Root Network and Ripple

In addition to its collaborations, Futureverse is leveraging blockchain technology through its integration of The Root Network and Ripple’s XRPL. The Root Network is a blockchain platform that offers ready-made runtimes for developers to build metaverse apps and games. The integration with XRPL allows XRP to be used as a gas token and supports the XLS-20 NFT standard. Ripple President Monica Long expressed excitement about supporting Futureverse’s vision and contributing to the foundational infrastructure layer of the open metaverse.

FAQs

What is Futureverse?

Futureverse is a company that utilizes artificial intelligence and metaverse technology to drive growth in the gaming industry. The company aims to become the world’s largest provider of metaverse AI technology and creative studio.

What is The Root Network?

The Root Network is a blockchain platform that offers ready-made runtimes for developers to build metaverse apps and games. It has been integrated with Futureverse’s blockchain.

How is Ripple involved in Futureverse?

Ripple has invested in a $54 million series A funding round for Futureverse and integrated its blockchain, The Root Network. XRP will be used as the gas token in Futureverse’s ecosystem.

What are the goals of Futureverse?

Futureverse aims to create an open, scalable, and interoperable infrastructure for the metaverse. The company also aims to become the world’s largest provider of metaverse AI technology, layer 1 architect, and creative studio.

What are the benefits of integrating XRPL with Futureverse?

The integration of XRPL allows for XRP to be used as a gas token in Futureverse’s ecosystem. It also supports the XLS-20 NFT standard.

What partnerships does Futureverse have?

Futureverse has partnerships with FIFA and Muhammad Ali Enterprises. The partnership with FIFA resulted in the launch of an AI-powered consumer game called AI League. The partnership with Muhammad Ali Enterprises will result in the creation of an AI-powered boxing game.

How will the funding be used?

The $54 million funding will be used by Futureverse to scale their AI and metaverse technologies.