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<p class="is-style-lead">Futureverse, a firm leveraging AI and metaverse technology for the gaming industry, has completed a $54 million series A funding round joined by Ripple.</p> 
<p>The funding round was led by 10T Holdings, an equity fund specializing in late-stage investments.</p> 
<p>Crypto payment solutions provider Ripple also participated in the funding round, further endorsing the company’s vision.</p> 
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   <p lang="en" dir="ltr">We are incredibly excited to announce that we’ve closed our $54M Series A round led by <a href="https://twitter.com/10TFund?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@10Tfund</a>, with participation from <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Ripple</a> to scale our AI and metaverse technologies. <a href="https://t.co/zOUI65c2X8" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/zOUI65c2X8</a></p>— Futureverse (@futureverse) <a href="https://twitter.com/futureverse/status/1681315975470407680?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 18, 2023</a> 
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<h2 class="wp-block-heading" id="scaling-ai-and-metaverse-tech">Scaling AI and metaverse tech</h2> 
<p>Futureverse is aimed to drive initiatives to expand AI and metaverse technologies on a grand scale. It aspires to transform the metaverse from a concept into a practical, accessible, and interactive destination for users.</p> 
<p>The company envisions becoming the world’s leading provider of metaverse AI technology, acting as a layer-1 architect and a creative studio.</p> 
<p>Futureverse has already integrated 11 startups into its ecosystem as part of this goal, creating one of the largest collaborative networks in the metaverse domain. Some key companies incorporated into Futureverse’s ecosystem include Altered State Machine, an AI-protocol company; Non-Fungible Labs, a creative studio; Sylo, a decentralized communications protocol; and Centrapay, a digital asset payments SDK.</p> 
<p> You might also like: <a href="https://crypto.news/metaverse-and-blockchain-boost-north-american-digital-gaming-markets/" rel="noopener noreferrer nofollow"> Metaverse and blockchain boost North American digital gaming markets </a> </p> 
<p>Recent partnerships have reinforced Futureverse’s standing in the metaverse community. The company has partnered with FIFA to introduce “AI League,” an AI-powered consumer game that blends AI gaming with digital collectibles. Additionally, Futureverse has an exciting collaboration with Muhammad Ali Enterprises, set to release “Muhammad Ali – The Next Legends,” an AI-powered boxing game.</p> 
<p>Futureverse also intends to leverage the power of blockchain technology by integrating its platform, <a href="https://crypto.news/network-to-reward-validators-stakers-with-xrp/" rel="noopener noreferrer nofollow">The Root Network</a>, with Ripple’s XRPL (<a href="https://crypto.news/now-ripple-xrp-ledger-can-support-physical-nft-projects/" rel="noopener noreferrer nofollow">XRP Ledger</a>).</p> 
<p>The Root Network, which is Ethereum Virtual Machine-compatible, offers a suite of protocols and blockchain capabilities, empowering developers to create advanced metaverse applications and games. The XRPL integration enables XRP to function as a gas token and implements the <a href="https://crypto.news/ripple-labs-introduces-a-new-standard-for-minting-nfts-on-xrpl/" rel="noopener noreferrer nofollow">XLS-20 NFT standard</a>.</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="The Root Network | Website And Bridge: Now Live! | Futureverse" width="1020" height="574" src="https://www.youtube.com/embed/qvFrZ1oaino?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>Despite skepticism and diminishing hype surrounding the metaverse concept, Futureverse remains determined to realize its vision. Some industry insiders have speculated that the metaverse idea is losing momentum, especially after social media giant Meta <a href="https://crypto.news/meta-to-cut-10k-jobs-pivoting-to-metaverse-and-ai/" rel="noopener noreferrer nofollow">scaled back</a> its metaverse plans.</p> 
<p>However, Ripple Labs President Monica Long <a href="https://venturebeat.com/metaverse/futureverse-raises-54m-to-marry-ai-and-the-metaverse/" target="_blank" rel="noopener noreferrer nofollow">expresses </a>strong confidence in Futureverse’s mission.</p> 
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 <p>“While we are still in the early stages of exploring what the metaverse can achieve, we at Ripple are excited to contribute to the foundational infrastructure and provide real-world utility to end-users in this open metaverse.”</p> <cite>Monica Long, president of Ripple.</cite> 
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<p> Read more: <a href="https://crypto.news/ripple-ceo-calls-xrp-ruling-a-win-for-crypto-industry/" rel="noopener noreferrer nofollow"> Ripple CEO calls XRP ruling a win for crypto industry </a> </p>

Ripple invests in $53m funding round by AI firm Futureverse

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