Ultiverse, the AI-powered gaming platform, has successfully raised $4 million in a private token sale aimed at advancing web3 game production and publishing. Led by IDG Capital, the funding round saw participation from notable names such as Animoca Brands, Polygon Ventures, MorningStar Ventures, and others, bringing Ultiverse's valuation to an impressive $150 million.

Frank Ma, CEO of Ultiverse, expressed enthusiasm about the capital infusion, stating, "The capital allows us to accelerate our vision of building the most intuitive AI-powered platform for web3 game creation." Ma highlighted the company's commitment to providing accessible tools and captivating experiences to foster the next generation of AI-driven web3 games. He also announced the imminent release of Ulti-Pilot, an immersive portal powered by AI, offering diverse gaming experiences within the Ultiverse universe.

AI Meets Blockchain

Ultiverse positions itself at the forefront of gaming interoperability through the integration of AI and blockchain. The upcoming launch of the Gaming Launchpad, Restake Rollup, and additional decentralized applications (dApps) underscores the company's commitment to pushing boundaries in the web3 gaming space.

Jimmy Liu, Ultiverse's co-founder, emphasized the importance of infrastructure to deliver incentives and monetization for each game published. In an interview, Liu stated, "To reach our users, we cannot simply rely on the playability of the game." He emphasized the necessity of a closed loop to ensure the governance token's utility aligns with the gaming ecosystem.

Ultiverse, founded in 2022 by Frank Ma, Jimmy Liu, and Joe Chou, has witnessed substantial growth, boasting over 7.3 million registered users as of December 2023. The company aims to convert its sizable web2 gamer user base to Web3 gaming, with 830,000 monthly active users globally.

The company's milestones include the launch of its genesis NFT, Electrisheep, with a market cap of $30 million. The introduction of the Ultiverse Main World, supported by AI, marked a pivotal moment, along with the release of Terminus PC and Vision Pro versions featuring AI-powered non-player characters (NPCs) on Steam. Additionally, Ultiverse launched three dApps: Meta Merge, Terminus City, and CricketFly.

Ultiverse plans strategic partnerships with other game companies to drive traffic through its platform and will also launch games within its ecosystem. IDG Capital emphasized Ultiverse's mission to catalyze mass adoption of web3 gaming augmented by AI, stating, "They are not just creating a platform; they are defining a new paradigm in gaming."

Looking ahead, Ultiverse anticipates the launch of Ultiverse Main World, Terminus PC, Vision Pro versions, and three AI-powered web3 dApps in the first half of the year. The company aims to showcase Terminus City as a flagship experiment, featuring a triple-A game integrating AI NPCs. The second half of the year will witness the launch of Ultiverse Gaming Launchpad, Ultiverse Restake Rollup, and three additional DApps.

Valuation of $150M

Liu anticipates that Ulti-Pilot's launch will enhance understanding of Ultiverse's goals and facilitate interaction with the company in the realm of interoperable games. The focus remains on making AI more efficient for web3 game production, with Liu stating, "AI as a utility is becoming more of a daily habit with us."

Ultiverse's funding history reflects a steady growth trajectory, with this latest $4 million token round elevating its valuation to $150 million. Liu mentioned that investors holding the latest token are expected to retain it for approximately 18 months. IDG Capital, with a history of investments in gaming companies, sees Ultiverse as a leader in web3 gaming.

Liu acknowledged the company's strategic shift from hardcore to mid-core and casual games to accommodate shorter attention spans. Ultiverse aims to build a robust platform and infrastructure for launching web3 games within its community, leveraging its better retention to maintain valuation stability.

In a dynamic blockchain gaming environment, Ultiverse remains optimistic about the potential for web3 gamers to reinvest, backed by the recent recovery in the cryptocurrency market. The company actively seeks key opinion leaders to amplify its presence, emphasizing a commitment to achieving goals gradually and fostering positivity among players for new opportunities in the evolving web3 gaming landscape.