Revolutionary AI Metaverse Project Attracts Ripple’s Investment
Ripple Labs and 10T, a crypto investment firm, have jointly invested $54 million in Futureverse, a startup focused on crypto technology and artificial intelligence (AI) gaming.
Futureverse plans to utilize the funds for research and development, particularly to advance its technology known as the Root Network. The Root Network is a suite of protocols and a blockchain platform with pre-built runtimes designed for creating metaverse applications, games, and experiences. It already supports integration with Ripple’s XRP Ledger (XRPL).
Last year, Futureverse was created by merging 11 startup tech firms. The company’s primary focus lies in combining AI and blockchain technology to enhance users’ experiences in the metaverse.
Among their well-received products are FLUF World, an NFT collection featuring cartoon rabbits; AI League, a mobile soccer game licensed by FIFA, the governing body of soccer; and Muhammad Ali: The Next Legends, an AI boxing game.
Monica Long, Ripple’s president, expressed excitement about contributing to the foundational infrastructure layer of the open metaverse and providing real value to end users.
READ MORE: Apple is Developing its Own AI Chatbot
According to Dan Tapiero, the CEO of 10T, Futureverse is expected to achieve significant success in the real world. Tapiero’s 10T recently launched a crypto private equity fund supported by prominent investors like hedge fund billionaire Alan Howard.
Tapiero further mentioned that Futureverse had developed an immersive and comprehensive metaverse platform, serving as an AI technology provider, metaverse infrastructure builder, L1 architect, creative studio, and digital community all in one.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
