Futureverse and Animoca Brands Join Forces to Advance Metaverse Technology

Futureverse and Animoca Brands have formed a strategic partnership to expedite the implementation of blockchain-based metaverse technologies. Both companies share a similar vision of a metaverse built on open standards, with Futureverse focusing on AI and the metaverse, while Animoca Brands is heavily investing in blockchain game startups and digital property rights enabled by blockchain.

Enhancing Metaverse Capabilities

Through a Memorandum of Understanding (MoU), the partnership aims to broaden the reach and capabilities of Futureverse’s advanced metaverse technology stack by utilizing Animoca Brands’ broad ecosystem of blockchain-based products, including various games and digital entertainment forms. This collaboration is set to enhance the growth of the Futureverse token ecosystem, incorporating tokens like The Root Network’s ROOT token, the ASTO token for 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. Subject to definitive agreements and board approval, this transaction is expected to be finalized within the next two months.

Futureverse Platform and Generative AI Technology

Futureverse has created 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 across Animoca Brands’ extensive portfolio of investments in over 400 Web3 projects.

The core of the Futureverse Platform comprises a suite of AI and metaverse tools that blend the user-friendly nature of Web2 with the power and interoperability of Web3. Key features include Pass for managing identity, data, collectibles, value, permissions, and status; DOT for creating interoperable digital collectibles or game assets; and the Swappables and Wearables Engine for developers creating apps, games, and digital experiences.

Innovative AI Solutions

Futureverse is also innovating generative AI assets through tools like DOC for text-to-3D creation and JEN, a high-fidelity text-to-music platform. An example of their innovation is Reebok Impact, an AI fashion experience on Instagram allowing users to create personalized digital sneakers via direct message. This initiative aims to simplify the complexities of Web3 technology while preserving digital ownership and interoperability benefits.

Exclusive Partnership with Warner Bros. Discovery

Futureverse has introduced The Readyverse, a project developed in an exclusive partnership with Warner Bros. Discovery through its Readyverse Studios venture to bring the Ready Player One franchise to the metaverse. This project will use 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 highlighted the transformative potential of Futureverse’s AI and metaverse technologies. He mentioned that the strategic partnership and mutual investment will leverage Futureverse’s advanced technology stack to greatly enhance Animoca Brands’ portfolio of over 400 Web3 investments. Siu emphasized the potential to accelerate ecosystem growth with Futureverse’s sophisticated L1 blockchain, The Root Network, and its AI-driven tools.

Synergy and Future Growth

Aaron McDonald, co-founder of Futureverse, expressed enthusiasm about strengthening strategic ties with Animoca Brands. He recognized Animoca Brands as a leader in Web3 game publishing with unmatched expertise and reach in expanding the ecosystem. McDonald highlighted the potential to boost Animoca Brands’ portfolio with Futureverse’s leading AI, Web3 gaming technology, and prominent intellectual property.

The partnership between Futureverse and Animoca Brands aims to advance blockchain-based metaverse technologies, promoting innovation and interoperability in the evolving digital landscape.