Futureverse, an AI and metaverse tech company, has raised $54 million in a new funding round led by 10T Holdings and featuring Ripple among the participants. Futureverse's platform includes a suite of AI content generation tools designed to enhance elements of the metaverse, such as music, objects, characters, and animations. The company's focus is on merging tech infrastructure and AI-powered content to create an open metaverse.

Ripple's participation in the round is noteworthy given last week's court ruling that Ripple did not break security laws when it sold its cryptocurrency tokens to the public. This could open up opportunities for crypto and blockchain gaming companies who previously faced restrictive regulations.

Futureverse has quietly rolled up 11 companies since it started, with an aim to bring together the metaverse infrastructure and content into one collaborative ecosystem, powered by digital collectibles. Futureverse's initiatives include launching the AI-powered game AI League in cooperation with FIFA and partnering with Muhammad Ali Enterprises for an AI-powered boxing game.

The company plans to use the funds from the round to continue developing its Futureverse Platform and other technologies. The Futureverse platform is based on The Root Network, a blockchain integrated with Ripple’s XRPL, supporting the use of XRP as a gas token and the XLS-20 NFT standard.

Futureverse has already formed several strategic partnerships with renowned organizations such as FIFA, Authentic Brands Group (ABG), Mastercard, Wimbledon, Death Row Records, Wētā Workshop, Snoop Dogg, Timbaland, Keanu Reeves, and Alexandra Grant.

Futureverse aims to be a significant player in the metaverse, executing a plan to create an open, scalable, and interoperable infrastructure within the metaverse industry. It underscores the importance of blockchain in creating a truly open metaverse and allowing users to own their digital identities and data.

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