Futureverse Raises $54 mn For Metaverse Push
Futureverse, a cryptocurrency technology and game startup, has acquired $54 million in Series A funding to further its metaverse ambitions. The deal was led by venture capital firm 10T Holdings, with XRP Ledger founder Ripple Labs also participating.
Futureverse stated in a statement that the cash will be used for research and development, as well as to advance The Root Network, a gaming-focused blockchain that is Ethereum Virtual Machine-compatible and features an XRP Ledger interface. The use of XRP and associated NFTs is supported by Root Network. In the future, the business intends to create more blockchain games.
A Futureverse spokesman acknowledged to Decrypt that other investors participated in the round but would not reveal their names.
(With inputs from Shikha Singh)
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