Futureverse, a leader in AI and metaverse technologies, and Animoca Brands, a prominent force in digital property rights and the open metaverse, have announced a strategic partnership. This collaboration aims to expand the capabilities of Futureverse's advanced metaverse technology stack and accelerate the growth of its token ecosystem, through a $5 million equity swap.
The partnership will leverage Animoca Brands’ extensive portfolio of blockchain-based products, including games and digital entertainment, to enhance Futureverse's technology. This collaboration is set to significantly boost the Futureverse token ecosystem, which includes The Root Network's ROOT token, the ASTO token for AI protocol, and the SYLO token for communication and social graph protocol.
Futureverse and Animoca Brands will work together to integrate Futureverse's generative AI technology across Animoca's investments in over 400 Web3 projects. Futureverse's development of The Root Network, an L1 optimized for interoperability within the open metaverse, will be a key component in this integration.
Central to the Futureverse Platform is a suite of AI and metaverse tools that combine the accessibility of Web2 with the power and interoperability of Web3. These tools include Pass, a digital passport for managing identity and data; DOT (Dynamic Object Transfer) for creating high-quality, interoperable digital assets; and the Swappables and Wearables Engine for building apps, games, and digital experiences. Futureverse's innovations also include DOC (Dynamic Object Creator) for text-to-3D creation and JEN, a high-fidelity text-to-music platform.
Futureverse recently demonstrated its cutting-edge technology with Reebok Impact, an AI fashion experience on Instagram that allows users to create custom digital sneakers. This initiative highlights Futureverse's commitment to making Web3 technology user-friendly while preserving digital ownership and interoperability benefits.
Additionally, Futureverse has launched The Readyverse, a venture by its Readyverse Studios, in partnership with Warner Bros. Discovery to bring the Ready Player One franchise to the metaverse. The Readyverse will utilize the Futureverse Platform and The Root Network to create a pioneering discovery experience within the open metaverse.
As part of the new partnership, The Readyverse will collaborate with Mocaverse, an Animoca Brands initiative, to advance interoperability within the Moca Network, contributing to the scalability of the open metaverse.
The equity swap agreement involves Animoca Brands subscribing for Futureverse shares, valuing Futureverse at $754 million, and Futureverse acquiring shares in Animoca Brands Corporation Limited at A$4.5 per share. The transaction is subject to final agreements and board approvals and is expected to be completed within two months.
Futureverse co-founder Aaron McDonald expressed enthusiasm about the partnership, noting Animoca Brands' leadership in Web3 game publishing and its potential to enhance Futureverse's AI and gaming technology. Yat Siu, executive chairman and co-founder of Animoca Brands, highlighted the transformative potential of Futureverse's AI and metaverse technologies in advancing Animoca's extensive Web3 investment portfolio.
