Ripple invests in $54M series A round for Futureverse

• Ripple invested in the $54 million series A round for Futureverse. 
• 10T Holdings led the funding round, which Futureverse says will go into scaling AI and metaverse technologies.
• Ripple has integrated Futureverse blockchain The Root Network and will see use of XRP as gas token.

Futureverse, a company leveraging artificial intelligence (AI) and metaverse technology to advance growth in the gaming industry, has closed a $54 million series A funding round.

The round was led by 10T Holdings, a leading late stage growth equity fund, and attracted the participation of Ripple. Futureverse plans to deploy the funds towards initiatives targeted at scaling AI and metaverse technologies.

Per today’s announcement, the company plans to tap into the partnership with 10T and Ripple “to take the metaverse from an abstract idea to a practical, accessible, and interactive destination.”

Futureverse’s AI-metaverse ecosystem

Futureverse has plans to become the world’s largest metaverse AI technology provider, layer 1 architect and creative studio. According to the company, this goal includes creating tools that support an open, scalable and interoperable infrastructure.

It is a goal that has seen it quietly roll up 11 startups into one ecosystem that’s currently among the largest collaborative ecosystems for the metaverse. Some of these companies include AI-protocol Altered State Machine, creative studio Non-Fungible Labs, decentralized communications protocol Sylo, and digital asset payments SDK Centrapay.

As part of the push to form a leading metaverse community, including for AI gaming powered by digital collectibles, Futureverse recently partnered with FIFA to launch an AI-powered consumer game dubbed AI League. 

The company also has a partnership with Muhammad Ali Enterprises in a deal set to see them launch “Muhammad Ali – The Next Legends”,  which will become the first-ever AI-powered boxing game.

Partnership with The Root Network and Ripple

As well as other key collaborations, Futureverse is looking to tap into the benefits of blockchain technology via the integration of its The Root Network and Ripple’s XRPL. 

The Root Network is a blockchain and suite of protocols offering ready-made runtimes. Developers will be able to tap into this platform to build next-generation metaverse apps and games, the company noted.

The…