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 Futureverse’s metaverse technology by integrating it with Animoca Brands’ extensive ecosystem of blockchain products. As part of this agreement, the companies will execute a $5 million equity swap.
Partnership details
The partnership is through a Memorandum of Understanding (MoU). Animoca Brands will subscribe to Futureverse shares, valuing Futureverse at $754 million. In return, Futureverse will acquire shares in Animoca Brands Corporation Limited. This will boost the Futureverse symbolic ecosystemincluding The Root Network’s ROOT token, the ASTO token for Futureverse’s AI protocol, and the SYLO token for communication and social graph protocols.
Futureverse’s AI and metaverse tools will integrate with Animoca Brands’ portfolio of more than 400 Web3 projects. Futureverse’s 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 also develops generative AI with DOC (Dynamic Object Creator) and JEN, a text-to-music generation platform.
The partnership will leverage Futureverse’s development of The Root Network, an easy-to-use Layer 1 blockchain optimized for interoperability. This integration aims to enhance Animoca Brands’ ecosystem and accelerate the growth and adoption of Web3 technologies.
Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, commented: “This strategic partnership and mutual investment will enable us to leverage Futureverse’s cutting-edge technologies to significantly enhance our portfolio of more than 400 Web3 investments. With Futureverse’s advanced L1 blockchain, The Root Network, and suite of AI-driven tools, we see significant potential to accelerate the growth of our ecosystem.”
Innovations and projects
Futureverse has demonstrated its innovative capabilities with projects like Reebok Impact, an AI-powered fashion experience on Instagram that allows users to create custom digital sneakers. Another important initiative is The Readyverse, developed in collaboration with Warner Bros. Discovery, which aims to bring the Ready Player One franchise into the metaverse. This project uses the Futureverse Platform and The Root Network to create a discovery experience.
The partnership also includes collaboration with Mocaverse, Animoca Brands’ growth network, to drive interoperability within the Moca network.
“Animoca 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 and leverage our industry-leading AI, Web3 gaming technology and A-list IP to supercharge its portfolio,” said Aaron McDonald, co-founder of Futureverse.