Ripple Dives Deeper into the Metaverse with $54 Million Investment in Futureverse

Futureverse, a metaverse infrastructure and content company Received $54M investment round from Ripple and other investors to build an open, scalable and interoperable infrastructure within the metaverse industry.

The company plans to incorporate 11 Metaverse infrastructure and content companies into a collaborative ecosystem that will provide the necessary components for building any Metaverse application. It also aims to become a leader in the entirely new field of Artificial Intelligence (AI) gaming.

Ripple has made a big investment in Futureverse’s vision

The firm’s broader technology includes its Futureverse platform consisting of “powered by Futureverse” tools and products, which it will further develop using the proceeds from the funding round.

Futureverse is using The Root Network, a blockchain and suite of protocols with a ready-made runtime, to build the next generation of metaverse apps, games and experiences. The Root Network is integrated with Ripple’s XRP Ledger (XRPL) and supports the use of XRP as a gas token as well as the XLS-20 NFT standard.

With strategic partnerships with well-known organizations such as Futureverse FIFA, Authentic Brands Group, Mastercard, Wimbledon and more, Metaverse is making strides in the industry.

The company is run by Metaverse pioneer Aaron MacDonald, technology and entertainment investor/operator Shara Senderoff, technology and information security expert Marco Brondani, and Futureverse business operator Dan Gillespie.

Ripple’s investment in Futureverse is an important step towards realizing the potential of the Metaverse and creating a seamless, interactive experience for users. Ripple’s President, Monica Long, said the company is thrilled to contribute to the underlying infrastructure and provide real utility to the end users of the open metaverse.

The founders of Futureverse believe that the Metaverse is the next evolution of the Internet, defined by immersive convergence and data, in which users are empowered to own and control their own identities, social graphs, content and online value. Is.

With the new Ripple investment, he is confident that the Futureverse platform will make the content layer interoperable, providing a seamless, interconnected experience for users.

Finally, Futureverse’s Series A funding round marks a significant milestone for the company, with the investment from Ripple and other investors contributing to the company’s momentum.

Futureverse’s vision of creating an open, scalable and interoperable infrastructure within the metaverse industry is becoming a reality, and the company’s extensive technology and strategic partnerships establish it as a major player in the metaverse industry.

Crypto Giant Adds XRP To Its Roster

according to a recent news AnnouncementXRP is listed on the prestigious Liechtenstein-based LCX exchange as of July 18.

The exchange will support three trading pairs for the token, namely XRP/USDC, XRP/EUR, and XRP/LCX. Deposits are available from that date and trading will start in post-only mode, with full trading mode activated when pairs reach minimum liquidity.

LCX Exchange is one of the most prestigious crypto exchanges in the world, renowned for offering high quality trading services and innovative technology. The exchange’s support for XRP is a testament to the token’s credibility and market appeal, as well as its ability to fuel growth in the cryptocurrency industry.

According to LCX Exchange, the addition of XRP to its platform will give users access to one of the most widely used cryptocurrencies in the world with a market capitalization of over $60 billion. The exchange also noted that XRP’s low transaction fees, fast settlement times and widespread adoption make it an attractive option for traders and investors.

As of the time of writing, XRP continues to hold its position among the top four cryptocurrencies in the market in terms of market capitalization and trading volume. Over the past 24 hours, the coin has seen a significant rally, gaining more than 5% and trading at $0.7669.

Featured Image from Unsplash, Chart from Tradingview.com