Futureverse and Animoca Brands have entered into a strategic partnership aimed at accelerating the deployment of blockchain-based metaverse technologies. Both companies share a vision of a metaverse built on open standards, with Futureverse focusing on AI and the metaverse, and Animoca Brands investing extensively in blockchain game startups and digital property rights enabled by blockchain.
Enhancing Metaverse Capabilities
Under a Memorandum of Understanding (MoU), the partnership aims to enhance the reach and capabilities of Futureverse’s advanced metaverse technology stack by leveraging Animoca Brands’ extensive ecosystem of blockchain-based products. This includes a wide range of games and other digital entertainment forms. The collaboration is set to boost the growth of the Futureverse token ecosystem, incorporating tokens such as The Root Network’s ROOT token, the ASTO token powering Futureverse’s AI protocol, and the SYLO token for SYLO’s communication and social graph protocol.
Equity Swap and Investment
The agreement involves an equity swap valued at $5 million, where both companies will subscribe to shares in each other. Animoca Brands will subscribe for Futureverse shares based on a valuation of $754 million for the entire issued share capital of Futureverse, while Futureverse will subscribe for shares in Animoca Brands Corporation Limited at $4.50 per share in Australian currency. This transaction, subject to definitive agreements and board approval, is expected to be completed within the next two months.
Futureverse Platform and Generative AI Technology
Futureverse has developed The Root Network, an advanced L1 blockchain optimized for interoperability across the open metaverse. The partnership with Animoca Brands will focus on expanding the Futureverse Platform and its generative AI technology throughout Animoca Brands’ extensive portfolio of investments in over 400 Web3 projects.
The core of the Futureverse Platform includes a suite of AI and metaverse tools that combine the user-friendly nature of Web2 with the power and interoperability of Web3. Key features include Pass, a digital passport for managing identity, data, collectibles, value, permissions, and status; DOT (Dynamic Object Transfer), a tool for creating interoperable digital collectibles or game assets; and the Swappables and Wearables Engine for developers building apps, games, and digital experiences.
Innovative AI Solutions
Futureverse is also pioneering generative AI assets with tools like DOC (Dynamic Object Creator) for text-to-3D creation and JEN, a high-fidelity text-to-music platform. Recently, Futureverse showcased its innovation through Reebok Impact, an AI fashion experience on Instagram that allows users to create custom digital sneakers via direct message. This initiative aims to simplify the complexities of Web3 technology while maintaining the benefits of digital ownership and interoperability.
Exclusive Partnership with Warner Bros. Discovery
Futureverse has announced The Readyverse, a project developed by its Readyverse Studios venture in exclusive partnership with Warner Bros. Discovery to bring the Ready Player One franchise to the metaverse. This initiative will utilize the Futureverse Platform and The Root Network to create a groundbreaking discovery experience within the open metaverse.
Animoca Brands’ Perspective
Yat Siu, executive chairman of Animoca Brands, has emphasized the transformative potential of Futureverse’s AI and metaverse technologies. He noted that the strategic partnership and mutual investment would leverage Futureverse’s advanced technology stack to significantly enhance Animoca Brands’ portfolio of over 400 Web3 investments. Siu highlighted the potential to accelerate the growth of their ecosystem with Futureverse’s sophisticated L1 blockchain, The Root Network, and its suite of AI-driven tools.
Synergy and Future Growth
Aaron McDonald, co-founder of Futureverse, expressed excitement about deepening strategic ties with Animoca Brands. He acknowledged Animoca Brands as a market leader in Web3 game publishing, with unparalleled expertise and reach in growing the ecosystem. McDonald highlighted the potential to supercharge Animoca Brands’ portfolio with Futureverse’s leading AI, Web3 gaming technology, and high-profile intellectual property.
The partnership between Futureverse and Animoca Brands is poised to advance the capabilities and reach of blockchain-based metaverse technologies, fostering innovation and interoperability within the evolving digital landscape.
This news is republished from another source.
