Futureverse, a metaverse infrastructure and content company, has received a $54 million investment round from Ripple and other investors to create an open, scalable, and interoperable infrastructure within the metaverse industry.
The company plans to merge 11 metaverse infrastructure and content companies into a collaborative ecosystem, providing essential components for building any metaverse application. It also aims to become a leader in a whole new frontier of artificial intelligence (AI) gaming.
Ripple invests heavily in Futureverse’s vision
The company’s extensive technology includes the Futureverse platform of “Powered By Futureverse” tools and products, which it will further develop with proceeds from the funding round.
Futureverse uses The Root Network, a blockchain and set of protocols with ready runtimes to build next-generation metaverse apps, games and experiences. The root network is integrated with Ripple’s XRP Ledger (XRPL) and supports the use of XRP as a gas token, as well as the XLS-20 NFT standard.
Futureverse has made strides in the metaverse industry, with strategic partnerships with renowned organizations such as FIFA, Authentic Brands Group, Mastercard, Wimbledon and more.
The company is led by metaverse pioneer Aaron McDonald, tech and entertainment investor/operator Shara Senderoff, technology and information security expert Marco Brondani, and Futureverse business operator Dan Gillespie.
Ripple’s investment in Futureverse is an important step toward realizing the metaverse’s potential and creating a seamless, interconnected experience for users. Ripple’s president, Monica Long, stated that the company is excited to contribute to the foundational infrastructure layer and provide real utility to the end users of the open metaverse.
Futureverse’s founders believe the metaverse is the next evolution of the Internet, defined by immersive convergence and data, empowering users to own and manage their identity, social graph, content and value online.
With the new Ripple investment, they are confident that the Futureverse platform will make the content layer interoperable and provide a seamless, interconnected experience for users.
In conclusion, Futureverse’s Series A funding round is an important milestone for the company, with investment from Ripple and other investors adding to the company’s momentum.
Futureverse’s vision to create an open, scalable, and interoperable infrastructure within the metaverse industry is becoming a reality, and the company’s extensive technology and strategic partnerships position it as a key player in the metaverse industry.
Crypto Giant adds XRP to its roster
According to a recent announcementXRP has been listed on the prestigious Liechtenstein-based LCX Exchange since July 18.
The exchange supports three trading pairs for the token, namely XRP/USDC, XRP/EUR, and XRP/LCX. Deposits are available since the same date and trading begins in Post-Only mode, with full trading mode being triggered when pairs reach minimum liquidity.
LCX Exchange is one of the world’s most prestigious crypto exchanges, with a reputation for providing top quality trading services and innovative technology. The exchange’s support for XRP is a testament to the token’s credibility and appeal, as well as its potential to drive growth in the cryptocurrency industry.
According to the LCX Exchange, the addition of XRP to its platform will give users access to one of the most widely used cryptocurrencies in the world, with a market cap of over $60 billion. The exchange also noted that XRP’s low transaction fees, fast settlement times, and widespread adoption make it an attractive option for traders and investors.
At the time of writing, XRP maintains its position among the top four cryptocurrencies in the market in terms of market cap and trading volume. In the past 24 hours, the token has experienced a significant surge, rising more than 5% and trading at $0.7669.
Featured image of Unsplash, chart from TradingView.com