News has just been released that Ripple is investing in a new AI metaverse project. Read on for the latest updates on this exciting development.
Ripple Labs is investing in new AI metaverse project
Ripple Labs and crypto investment firm 10T have jointly invested $54 million in Futureverse, a startup specializing in cryptocurrency technology and artificial intelligence (AI) gaming.
As per the recent announcement, Futureverse intends to utilize the funds for research and development, particularly in advancing its technology named the Root Network.
The Root Network is a blockchain-based protocol suite that offers “pre-built runtimes” for creating metaverse apps, games, and experiences. It also allows integration with Ripple’s XRP Ledger (XRPL).
A group called Futureverse, which was created by merging 11 startup tech companies last year, is working on innovative projects that merge artificial intelligence (AI) and blockchain technology for users in the metaverse.
Their popular offerings consist of FLUF World, a collection of non-fungible tokens (NFTs) featuring cartoon rabbits, AI League, a mobile soccer game licensed by FIFA, and Muhammad Ali: The Next Legends, an AI-powered boxing game.
Ripple’s president Monica Long said the following:
“While we’re at the earliest stages of what a project like this – and really the larger concept of the metaverse – can achieve, we at Ripple are thrilled to contribute to the foundational infrastructure layer and provide real utility to the end users of the open metaverse.”
Ripple in the news
Leading cryptocurrency exchanges like Coinbase and Binance.US have started offering trading support for XRP again, following a crucial court ruling in the SEC’s legal battle against Ripple Labs.
Coinbase was the first to re-introduce XRP trading on Thursday, and Binance.US did the same a day later. These exchanges had earlier suspended XRP trading when the SEC sued Ripple in late 2020.
Check out our previous article in order to learn more details about this.
