Futureverse, a leader in AI and metaverse technologies, has partnered with Animoca Brands, known for digital property rights and blockchain-based entertainment. This collaboration aims to enhance Futureverse’s metaverse technology by integrating it with Animoca Brands’ extensive blockchain ecosystem. As part of this agreement, the companies will conduct an equity swap valued at $5 million.
The partnership is formalised through a Memorandum of Understanding (MoU). Animoca Brands will subscribe to Futureverse shares, valuing the company at $754 million. In return, Futureverse will acquire shares in Animoca Brands Corporation Limited. This exchange will boost the Futureverse token ecosystem, including The Root Network’s ROOT token, the ASTO token for Futureverse’s AI protocol, and the SYLO token for communication protocols.
Futureverse’s AI and metaverse tools will be integrated with Animoca Brands’ portfolio of over 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 is also developing generative AI with DOC (Dynamic Object Creator) and JEN, a text-to-music generation platform. This collaboration will leverage Futureverse’s development of The Root Network, a user-friendly Layer 1 blockchain optimized for interoperability.
Yat Siu, executive chairman and co-founder of Animoca Brands, commented, “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. With Futureverse’s sophisticated L1 blockchain, The Root Network, and its suite of AI-driven tools, we see significant potential to accelerate the growth of our ecosystem.”
Futureverse has demonstrated its innovative capabilities with projects like Reebok Impact, an AI-driven fashion experience on Instagram that allows users to create custom digital sneakers. Another significant initiative is The Readyverse, developed in partnership with Warner Bros. Discovery, which aims to bring the Ready Player One franchise into the metaverse. This project will utilize the Futureverse Platform and The Root Network to create a discovery experience.
The partnership will also involve collaboration with Mocaverse, Animoca Brands’ growth network, to advance interoperability across the Moca Network.
Aaron McDonald, co-founder of Futureverse, stated, “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.”
