Futureverse and Animoca Brands Forge Strategic Partnership to Propel Metaverse and AI Innovation
Staff Writer • 2024-06-28
Futureverse, a leader in AI and metaverse technologies, and Animoca Brands, a pioneering company in digital property rights and the open metaverse, have entered into a Memorandum of Understanding (MoU) for a strategic partnership. This collaboration aims to enhance the reach and capabilities of Futureverse's advanced metaverse technology stack by leveraging Animoca Brands’ extensive ecosystem of blockchain-based products, including games and other digital entertainment forms. Enhancing Futureverse's Ecosystem with Animoca Brands The partnership is set to accelerate the growth of the Futureverse token ecosystem, which includes The Root Network's ROOT token, the ASTO token powering Futureverse's AI protocol, and the SYLO token facilitating SYLO’s communication and social graph protocol. Under the MoU, Futureverse and Animoca Brands intend to undertake an equity swap involving shares of each other, valued at US$5 million. Futureverse and Animoca Brands will work to expand the Futureverse Platform and its generative AI technology across Animoca Brands' extensive portfolio, which includes over 400 Web3 projects. Futureverse has developed The Root Network, an L1 optimized for seamless interoperability across the open metaverse, and this collaboration will strategically foster the growth of the Futureverse token ecosystem. The Futureverse Platform: Bridging Web2 and Web3 At the core of the Futureverse Platform is a suite of AI and metaverse tools that seamlessly blend the ease of accessibility of Web2 with the power and interoperability of Web3. This suite includes: • Pass: A digital passport for overseeing identity, data, collectibles, value, permissions, and status across diverse experiences. • DOT (Dynamic Object Transfer): A tool enabling brands, developers, and agencies to craft high-quality, interoperable digital collectibles or game assets. • Swappables and Wearables Engine: Designed for developers to compose and decompose collectibles from one another. • DOC (Dynamic Object Creator): A tool for text-to-3D creation. • JEN: A high-fidelity text-to-music platform. Futureverse recently showcased its proprietary technology with Reebok Impact, an AI fashion experience on Instagram that allows users to create custom digital sneakers via direct message. This initiative highlights Futureverse's commitment to integrating Web3 technology with digital ownership and interoperability seamlessly. Expanding Horizons with Readyverse Futureverse recently announced The Readyverse, developed by its Readyverse Studios venture, which has secured an exclusive partnership with Warner Bros. Discovery to bring the Ready Player One franchise to the metaverse. The Readyverse will harness the power of the Futureverse Platform and The Root Network to pioneer a groundbreaking discovery experience within the open metaverse. Proposed Equity Swap The proposed equity swap involves Animoca Brands subscribing for Futureverse shares based on a valuation of US$754 million for the entire issued share capital of Futureverse. Futureverse will subscribe for shares in Animoca Brands Corporation Limited at A$4.5 per share, resulting in the issue of approximately 1,658,375 Animoca Brands shares. The transaction is subject to the entry into definitive agreements and board approval from both Futureverse and Animoca Brands Corporation Limited and is expected to be completed within the next two months. Management Commentary “Animoca Brands is the clear market leader in Web3 game publishing, and its expertise and reach in growing this ecosystem are 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. “We are excited to partner with Futureverse, whose innovative AI and metaverse technologies are set to transform the digital landscape,” said Yat Siu, executive chairman and co-founder of Animoca Brands. “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.” About Futureverse Futureverse is a leader in revolutionary AI and metaverse technologies that enable open, scalable, and interoperable apps, games, and experiences. Focused on building the technological infrastructure of the open metaverse, Futureverse maintains one of the largest digital collectible communities and has an expansive cultural footprint within the metaverse space through strategic partnerships with leading IP and brands. To date, Futureverse has built innovative experiences with organizations such as Warner Brothers, FIFA, Mastercard, Authentic Brands Group, Reebok, and Muhammad Ali. For more information, visit futureverse.com. About Animoca Brands Animoca Brands is a Web3 leader that leverages blockchain to deliver digital property rights to consumers, helping to establish the open metaverse. The company develops and publishes a broad portfolio of products, including original games and those utilizing popular intellectual properties from sports and entertainment. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 400 Web3 investments. For more information, visit animocabrands.com or follow on social media platforms.
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