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Futureverse collaborates with Animoca Brands on metaverse/blockchain technology
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Futureverse AND Animoca Brands have joined forces in a strategic partnership to accelerate the implementation of blockchain-based metaverse technologies.
Both companies believe in a metaverse based on open standards. Futureversewhich, as a relationship with Ready Player One author Ernest Cline, is all about artificial intelligence and the metaverse. Animoca brands has hundreds of investments in blockchain gaming startups and believes in the digital property rights enabled by blockchain.
The companies have a Memorandum of Understanding (MoU) for a strategic partnership to enhance the reach and capabilities of Futureverse’s advanced metaverse technology by leveraging Animoca Brands’ broad ecosystem of blockchain-based products, including games and other forms of digital entertainment.
The partnership will also accelerate the growth of the Futureverse token ecosystem, which includes The Root Network’s ROOT token, the ASTO token that powers Futureverse’s AI protocol, and the SYLO token that facilitates SYLO’s communication and social graph protocol.
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Under the MOU, Futureverse and Animoca Brands intend to enter into a stock exchange involving each other’s shares (or their respective group companies) valued at $5 million.
Reebok is collaborating with Futureverse.
Futureverse and Animoca Brands will collaborate to grow the Futureverse platform and its generative AI technology across Animoca Brands’ broad investment portfolio in over 400 Web3 projects.
Futureverse led the development of The Root Network as a sophisticated yet easy-to-use L1, optimized for seamless interoperability across the open metaverse. Animoca Brands and Futureverse will collaborate to strategically foster the growth of the Futureverse token ecosystem.
At the heart of the Futureverse platform is a suite of AI and metaverse tools that merge the ease of accessibility of Web2 with the power and interoperability of Web3. This suite of tools includes Pass, a digital passport that allows users to easily track identity, data, collectibles, value, permissions, and status across multiple experiences; DOT (Dynamic Object Transfer), a revolutionary tool that enables brands, developers, and agencies to create high-quality, interoperable digital collectibles or game assets; and Swappables and Wearables Engine, designed for developers creating apps, games, and digital experiences who want to be able to compose and decompose collectibles from one another.
Additionally, Futureverse is building generative AI assets with DOC (Dynamic Object Creator), which enables 3D text creation, and JEN, a high-fidelity text-to-music platform.
Futureverse recently showcased its proprietary technology, innovation and creativity with Reebok Impact, an Instagram-accessible AI fashion experience that allows users to seamlessly create custom digital sneakers via direct message. In speaking to sneakerheads, Futureverse said it showed how it plans to make the complexities of Web3 technology invisible while maintaining the benefits of digital ownership and interoperability.
Futureverse recently announced The Readyverse, developed by its venture Readyverse Studios, which has secured an exclusive partnership with Warner Bros. Discovery to bring the Ready Player One franchise into the metaverse (see announcement from January 2024). The Readyverse will leverage the power of the Futureverse platform and The Root Network to pioneer an innovative discovery experience within the open metaverse.
“We are thrilled to partner with Futureverse, whose innovative AI and metaverse technologies are poised to transform the digital landscape,” said Yat Siu, executive chairman of Animoca Brands, in a statement. “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 root-based tools ‘artificial intelligence, we see significant potential to accelerate the growth of our ecosystem.”
As part of the partnership, The Readyverse will collaborate with Animoca Brands’ Mocaverse, the growth network with an interoperable infrastructure layer of Account, Identity, Reputation and PointFi systems seeded by Animoca Brands, to drive interoperability between experiences within the Moca network, helping to expand and scale the open metaverse.
“Animoca Brands is the clear market leader in Web3 game publishing and its experience and reach in growing this ecosystem is unmatched. We are excited to deepen our strategic ties with and bring our world-leading AI, Web3 gaming technology and world-class IP to help power its portfolio,” said Aaron McDonald, co-founder of Futureverse, in a note.
Details of the proposed transaction
Futureverse and Animoca Brands intend to make an equity exchange valued at $5 million, subject to the following conditions. Animoca Brands will subscribe for Futureverse shares based on a valuation of $754 million for the entire issued share capital of Futureverse, and Futureverse will subscribe for shares of Animoca Brands Corporation Limited at $4.50 per share in Australian currency (indicatively resulting in the issue of 1,658,375 Animoca Brands shares assuming an A$:US$ exchange rate of $0.67).
The transaction is subject to, among other things, the execution of definitive agreements and approval of the boards of directors of both Futureverse and Animoca Brands Corporation Limited, and is expected to be completed within the next 2 months.
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