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Ripple Invests in AI & Metaverse Company amid XRP Jump

By Luigi Savarese
Luigi Savarese

2 Min

July 19, 2023

Key Takeaways

  • Ripple invests $54M in AI & Metaverse firm, XRP surges.
  • Futureverse utilizes AI for immersive Metaverse content.
  • Futureverse investment reflects Ripple's confidence in Metaverse's potential.

Ripple invests in AI and Metaverse company, Futureverseclosing a $54 million Serie A funding round. The move has given a second wind to XRP prices, which are currently outperforming the top 20 crypto assets.

Futureverse already uses AI-driven content creation tools. These tools enhance music, objects, characters, and animations within the Metaverse. These support a higher immersive digital experience. Moreover, Futureverse is already a technology partner with Ripple. Its "Root Network" blockchain is integrated with XRPL. Also, it endorses using XRP as a GAS token and the XLS-20 NFT standard. Collaborating with Ripple enables Futureverse to turn abstract ideas into tangible, accessible, and interactive realities.

Co-Founders of Futureverse, Aaron McDonald and Shara Senderoff, said:

"With this investment round, the company aims to provide an all-encompassing platform that serves as an AI technology provider, Metaverse infrastructure builder, creative studio, and digital community".

Investing in Futureverse shows Ripple's confidence in the Metaverse and its potential to disrupt the gaming, entertainment, and social media industries. It is also a sign of the growing interest in AI-powered technologies. In fact, they are crucial to unlocking the Metaverse's full potential.

The recent surge in XRP prices is likely due to a combination of factors. Among them there is investment in Futureverse, the SEC ruling, and the overall bullish sentiment in the crypto market. However, it is essential to note that the Metaverse is still in its early stages of development. Moreover, there is no guarantee that it will become the next big thing.

Nevertheless, the investment in Futureverse is a significant development that suggests Metaverse is a space both companies take seriously. It will be interesting to see if this industry evolves in the coming years and whether it can live up to the hype.