Futureverse and Animoca Brands Forge Strategic Partnership to Enhance Metaverse and AI Ecosystems
Ted Hisokawa Jun 29, 2024 05:19
Futureverse and Animoca Brands have formed a strategic partnership to boost their metaverse technology stack and token ecosystem.
Futureverse and Animoca Brands have announced a strategic partnership aimed at advancing the capabilities of Futureverse's metaverse technology stack and expanding its token ecosystem. According to Animoca Brands, the collaboration will leverage Animoca Brands’ extensive portfolio of blockchain-based products to enhance the reach and functionality of Futureverse's offerings.
Strategic Partnership Details
Under the terms of the Memorandum of Understanding (MoU), the partnership will involve a mutual equity swap valued at $5 million. Animoca Brands will subscribe for Futureverse shares based on a valuation of $754 million for the entire issued share capital of Futureverse. Concurrently, Futureverse will subscribe for shares in Animoca Brands Corporation Limited at A$4.5 per share.
This strategic alliance aims to integrate Futureverse's advanced AI and metaverse tools within Animoca Brands' ecosystem, which includes over 400 Web3 projects. The collaboration will also focus on accelerating the growth of the Futureverse token ecosystem, which includes The Root Network's ROOT token, the ASTO token for AI protocols, and the SYLO token for communication and social graph protocols.
Technological Integration
The Futureverse Platform offers a suite of AI and metaverse tools that blend the accessibility of Web2 with the power of Web3. Key components include Pass, a digital passport for managing identity and data; DOT (Dynamic Object Transfer), a tool for creating interoperable digital collectibles; and the Swappables and Wearables Engine for app and game developers. Futureverse is also pioneering generative AI assets with tools like DOC (Dynamic Object Creator) for text-to-3D creation and JEN, a high-fidelity text-to-music platform.
Futureverse recently showcased its innovative technology through the Reebok Impact AI fashion experience on Instagram, allowing users to create custom digital sneakers via direct message. This initiative highlights Futureverse's commitment to simplifying Web3 technology while maintaining the benefits of digital ownership and interoperability.
Future Projects and Collaborations
Futureverse has announced The Readyverse, developed by its Readyverse Studios venture, in partnership with Warner Bros. Discovery to bring the Ready Player One franchise to the metaverse. The Readyverse will utilize the Futureverse Platform and The Root Network to create a groundbreaking discovery experience within the open metaverse.
As part of the new partnership, The Readyverse will work with Mocaverse, an interoperable infrastructure layer developed by Animoca Brands. This collaboration aims to advance interoperability across experiences within the Moca Network, contributing to the scalability of the open metaverse.
Management Commentary
“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 bring our world-leading AI, Web3 gaming technology, and A-list IP to help supercharge its portfolio,” said Aaron McDonald, co-founder of Futureverse.
Yat Siu, executive chairman and co-founder of Animoca Brands, added, “We are excited to partner with Futureverse, whose innovative AI and metaverse technologies are set to transform the digital landscape. This strategic partnership and mutual investment will allow us to leverage Futureverse’s advanced technology stack to significantly enhance our portfolio of over 400 Web3 investments.”
About Futureverse
Futureverse is a leader in AI and metaverse technologies, focusing on building the infrastructure of the open metaverse. Known for its innovative experiences and strategic partnerships with organizations like Warner Brothers, FIFA, and Reebok, Futureverse aims to make Web3 technology accessible and beneficial for digital ownership and interoperability.
About Animoca Brands
Animoca Brands is a Web3 leader that leverages blockchain to deliver digital property rights, aiming to establish the open metaverse. The company develops and publishes a wide range of products, including original games and products using popular intellectual properties from sports and entertainment.
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