Futureverse and Animoca Brands Join Forces to Propel Metaverse and AI Technologies

Futureverse, a leader in AI and metaverse technologies, and Animoca Brands, a prominent player in digital property rights and the open metaverse, have announced a strategic partnership. This collaboration aims to expand the reach and capabilities of Futureverse's metaverse technology stack by utilizing Animoca Brands' extensive ecosystem of blockchain-based products, including games and other forms of digital entertainment. Additionally, the partnership will accelerate the growth of Futureverse's token ecosystem, which consists of 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. As part of the agreement, the companies will undertake an equity swap valued at $5 million.

The partnership will see Futureverse and Animoca Brands working together to grow the Futureverse Platform and its generative AI technology across Animoca Brands' portfolio of over 400 Web3 investments. Futureverse has developed The Root Network, a sophisticated and user-friendly L1 optimized for seamless interoperability within the open metaverse. By leveraging this network, the partnership aims to strategically foster the growth of the Futureverse token ecosystem.

Central to the Futureverse Platform is a suite of AI and metaverse tools that combine Web2's accessibility with Web3's power and interoperability. These tools include Pass, a digital passport for managing identity, data, collectibles, value, permissions, and status across experiences; DOT (Dynamic Object Transfer), which allows the creation of high-quality, interoperable digital collectibles or game assets; and the Swappables and Wearables Engine, designed for developers building apps, games, and digital experiences. Futureverse is also pioneering generative AI assets with DOC (Dynamic Object Creator) for text-to-3D creation, and JEN, a high-fidelity text-to-music platform.

Futureverse recently showcased its innovative technology through Reebok Impact, an AI fashion experience on Instagram that enables users to create custom digital sneakers via direct message. This initiative highlights Futureverse's commitment to making Web3 technology accessible while preserving the benefits of digital ownership and interoperability. Additionally, Futureverse's Readyverse Studios has secured an exclusive partnership with Warner Bros. Discovery to bring the Ready Player One franchise to the metaverse, further illustrating the company's influence in the digital space.

The mutual investment between Futureverse and Animoca Brands is set to significantly enhance both companies' ecosystems. The equity swap will see Animoca Brands subscribing for Futureverse shares based on a valuation of $754 million, while Futureverse will subscribe for shares in Animoca Brands Corporation Limited at A$4.5 per share. This transaction is subject to definitive agreements and board approvals and is expected to be completed within the next two months. Aaron McDonald, co-founder of Futureverse, and Yat Siu, executive chairman and co-founder of Animoca Brands, have both expressed optimism about the partnership's potential to transform the digital landscape.