Futureverse, a company specializing in AI and metaverse technologies, has partnered with Animoca Brands, a leader in digital property rights and blockchain-based entertainment.
This collaboration aims to enhance Futureverseās metaverse technology by integrating it with Animoca Brandsā extensive ecosystem of blockchain products. The companies will conduct an equity swap valued at $5 million as part of this agreement.
Partnership Details
The partnership is via a Memorandum of Understanding (MoU). Animoca Brands will subscribe to Futureverse shares, valuing Futureverse at $754m. Futureverse will, in return, acquire shares in Animoca Brands Corporation Limited. This will boost the Futureverse token ecosystem, including The Root Networkās ROOT token, the ASTO token for Futureverseās AI protocol, and the SYLO token for communication and social graph protocols.
Futureverseās AI and metaverse tools will be integrated with Animoca Brandsā over 400 Web3 projects portfolio. Futureverseās tech stack includes Pass, a digital passport for identity management; DOT (Dynamic Object Transfer), a tool for creating digital collectibles; and the Swappables and Wearables Engine for composable digital assets. Futureverse is also developing generative AI with DOC (Dynamic Object Creator) and JEN, a text-to-music generation platform.
The collaboration will leverage Futureverseās development of The Root Network, a user-friendly Layer 1 blockchain optimized for interoperability. This integration aims to enhance Animoca Brandsā ecosystem and accelerate the growth and adoption of Web3 technologies.
Yat Siu, executive chairman and co-founder of Animoca Brands, commented, āThis strategic partnership and mutual investment will allow us to leverage Futureverseās advanced technology stack to significantly enhance our portfolio of over 400 Web3 investments. With Futureverseās sophisticated L1 blockchain, The Root Network, and its suite of AI-driven tools, we see significant potential to accelerate the growth of our ecosystem.āĀ
Innovations and Projects
Futureverse has demonstrated its innovative capabilities with projects like Reebok Impact, an AI-driven fashion experience on Instagram that allows users to create custom digital sneakers. Another significant initiative is The Readyverse, developed in partnership with Warner Bros. Discovery, which aims to bring the Ready Player One franchise into the metaverse. This project will utilize the Futureverse Platform and The Root Network to create a discovery experience.
The partnership will also involve collaboration with Mocaverse, Animoca Brandsā growth network, to advance interoperability across the Moca Network.
āAnimoca Brands is the clear market leader in Web3 game publishing and its expertise and reach in growing this ecosystem is unparalleled. We are excited to deepen our strategic ties with and bring our world leading AI, Web3 gaming technology and A-list IP to help supercharge its portfolio,ā said Aaron McDonald, co-founder of Futureverse.
