In late 2022, eight businesses merged to become Futureverse, which later absorbed three more.
Futureverse, a startup made up of 11 separate companies, announced on Tuesday that it had raised $54 million in a Series A round led by 10T Holdings and featuring funding from Ripple Labs.
The startup wants to provide the infrastructure for customers to experience the metaverse by fusing AI and blockchain. In late 2022, eight businesses merged into it, and three more were later absorbed.
Bloomberg was the first to break the funding news.
The two most notable current projects from Futureverse are AI League, a mobile soccer game licensed by FIFA, and FLUF World, a non-fungible token (NFT) collection of cartoon bunnies.
The size of the funding would seem to go counter to the general pattern in the digital asset sector, where it has been difficult to find cash during the bear market circumstances of the past year or more.
It implies that investors are still enthusiastic about initiatives that integrate digital assets with other industries, such as AI, which has seen a rise in interest this year thanks to tools like the language-recognition engine ChatGPT.
