Los Angeles, CA – Futureverse, a Los Angeles-based AI and metaverse technology and content company, today announced that it has raised $54 million in Series A funding. The round was led by 10T Holdings, with participation from Ripple.
The company intends to use the funds to continue developing its technology, including its platform featuring “Powered By Futureverse” tools and products, and The Root Network, a blockchain, and suite of protocols with ready-made runtimes for building metaverse apps, games, and experiences.
“We are excited to announce this funding round, which will allow us to accelerate our mission of building the open, scalable, and interoperable metaverse,” said Aaron McDonald, CEO of Futureverse. “We believe that the metaverse is the next generation of the internet, and we are committed to providing the tools and infrastructure that will enable developers to create amazing experiences for users around the world.”
The metaverse is a rapidly growing industry, with the global market for metaverse products and services expected to reach $800 billion by 2024. Futureverse is well-positioned to capitalize on this growth, as it has a strong team of experienced professionals and a proven track record of developing innovative technology.
The company has already launched a number of successful products and services, including the AI-powered consumer game “AI League” and the first AI-powered boxing game, “Muhammad Ali – The Next Legends.” Futureverse has also formed partnerships with a number of leading organizations, including Mastercard, Wimbledon, Death Row Records, Wētā Workshop, Snoop Dogg, Timbaland, Keanu Reeves, and Alexandra Grant.
Deal Table for Futureverse
| Key People | Investors | Amount Invested | Sector | Funding Round |
|---|---|---|---|---|
| Aaron McDonald, Shara Senderoff | 10T Holdings, Ripple | $54M | Metaverse | Series A |
How is Futureverse different from other Metaverse focused Startups
There are a number of other metaverse startups that have raised significant funding in recent months. For example, Animoca Brands raised $176 million in Series B funding in January, and The Sandbox raised $93 million in Series B funding in November.
These startups are all developing different aspects of the metaverse, including infrastructure, tools, and content. Futureverse is unique in its focus on AI and machine learning, which could give it a competitive advantage in the long run.
