Futureverse

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Futureverse, formed through the merger of 11 companies, provides tools for companies and developers to create content for the open metaverse. Its infrastructure consists of four core tools focusing on identity, artificial intelligence, communications, and payments, which are integrated via The Root Network, a layer-1 blockchain platform.

The Root Network is a proof-of-stake, EVM-compatible protocol that supports asset interoperability across the open metaverse. The network uses a dual-token system: ROOT (native token) for security and governance and XRP for gas fees, ensuring optimal network efficiency and security.

The company offers 1) Pass: a smart wallet SDK to allow companies onboard users to its Web3 apps and games; 2) Digital Object Transformer (DOT) Asset Pipeline: a platform to create 3D characters; and 3) AI Gaming Platform and SDK: a platform to develop AI powered casual strategy games. The gaming platform is powered by the Altered State Machine (ASM) Protocol, which allows developers to own, train, and trade unique AI avatars, games, worlds, and other metaverse applications. In addition, as of August 2023, the company was in the process of developing an asset registry, payment SDK, and NFT marketplace.

Key customers and partnerships

Applications launched on its platform include AI League and Muhammad Ali - The Next Legends in partnership with FIFA and ABG (the IP Rights holders of the Muhammad Ali Enterprises), respectively.

Moreover, the company partnered with best-selling author Ernest Cline to form Readyverse Studios in January 2024. Its shared goal is to create a definitive destination in the metaverse for fans to engage with their favorite stories and intellectual properties.

Funding and financials

In July 2023, Futureverse raised USD 54 million in Series A funding. The round was led by 10T Holdings, and the company aimed to use the fresh funds to further develop its technology, including its Futureverse Platform and The Root Network.

HQ location:
17 South Street Newton Auckland NZL
Founded year:
2022
Employees:
251-500
IPO status:
Private
Total funding:
USD 54.0 mn
Last Funding:
-
Last valuation:
USD 754.0 mn (Jun 2024)
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