Futureverse, a leader in AI and metaverse technologies,
and Animoca Brands, the company driving digital property
rights to help build the open metaverse, have entered into a
Memorandum of Understanding (MoU) for a strategic partnership to
enhance the reach and capabilities of Futureverse's advanced
metaverse technology stack by leveraging Animoca Brands’ extensive
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 powering
Futureverse's AI protocol, and the SYLO token facilitating SYLO’s
communication and social graph protocol. Under the MoU, Futureverse
and Animoca Brands intend to undertake an equity swap involving
shares of each other (or their respective group companies)
valued at US$5 million.
Futureverse and Animoca Brands will work to grow
the Futureverse Platform and its generative AI technology
throughout Animoca Brands' extensive portfolio of investments in
over 400 Web3 projects. Futureverse has spearheaded the development
of The Root Network as a sophisticated yet user-friendly 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 core of the Futureverse Platform is a
suite of AI and metaverse tools that seamlessly blend 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 effortlessly oversee their identity,
data, collectibles, value, permissions, and status across diverse
experiences; DOT (Dynamic Object Transfer), a
revolutionary tool empowering brands, developers, and agencies to
craft high-quality, interoperable digital collectibles or game
assets; and the Swappables and Wearables
Engine designed for developers building apps, games, and
digital experiences that want to be able to compose and decompose
collectibles from one another. Additionally, Futureverse is
trailblazing generative AI assets
with DOC (Dynamic Object Creator), which enables
text-to-3D creation, and JEN, a high-fidelity
text-to-music platform.
Futureverse recently showcased its proprietary
technology, innovation and creativity with Reebok Impact, a
first-of-its-kind AI fashion experience accessible through
Instagram allowing users to seamlessly create custom digital
sneakers via direct message. Propelling sneaker enthusiasts into
the future of fashion, Futureverse showcased its commitment to
making the complexities of Web3 technology invisible while
maintaining the benefits of digital ownership and
interoperability.
Futureverse recently announced The
Readyverse, developed by its Readyverse Studios venture, which has
secured an exclusive partnership with Warner Bros. Discovery to
bring the Ready Player One franchise to the metaverse
(see announcement of 4 January 2024). The Readyverse will
harness the power of the Futureverse Platform and The Root Network
to pioneer a groundbreaking discovery experience within the open
metaverse.
As part of the partnership, The Readyverse will
collaborate with Mocaverse, the marquee growth network with an
interoperable infrastructure layer of Account, Identity,
Reputation, and PointFi systems seeded by Animoca Brands, to
advance interoperability across experiences within the Moca
Network, contributing to the expansion and scalability of the open
metaverse.
Proposed transaction detailsFutureverse
and Animoca Brands intend to undertake an equity swap valued at
US$5 million, on the following terms. Animoca Brands shall
subscribe for Futureverse shares based on a valuation of US$754
million for the entire issued share capital of Futureverse, and
Futureverse shall subscribe for shares in Animoca Brands
Corporation Limited at A$4.5 per share (indicatively resulting in
the issue of 1,658,375 Animoca Brands shares assuming a A$:US$
exchange rate of $0.67).
The transaction is subject to, among others,
entry into definitive agreements and board approval of both
Futureverse and Animoca Brands Corporation Limited, and is expected
to be completed within the next 2 months.
Management commentary“Animoca Brands is
the clear market leader in Web3 game publishing and its expertise
and reach in growing this ecosystem is unparalleled. We are excited
to deepen our strategic ties with and bring our world leading AI,
Web3 gaming technology and A-list IP to help supercharge its
portfolio,” said Aaron McDonald, co-founder of Futureverse.
“We are excited to partner with Futureverse,
whose innovative AI and metaverse technologies are set to transform
the digital landscape,” said Yat Siu, executive chairman and
co-founder of Animoca Brands. “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 AI-driven tools, we see
significant potential to accelerate the growth of our
ecosystem.”
About FutureverseFutureverse is a leader
in revolutionary AI and metaverse technologies that enable open,
scalable, and interoperable apps, games and experiences. Focused on
building the technological infrastructure of the open metaverse,
Futureverse maintains one of the largest digital collectible
communities in the world and has amassed an expansive cultural
footprint within the metaverse space and beyond through strategic
partnerships with the world's leading IP and brands. To date,
Futureverse has built innovative experiences with renowned
organizations including Warner Brothers, FIFA, Mastercard,
Authentic Brands Group, Reebok, and Muhammad Ali, along with the
recent launch of Readyverse Studios, exclusively bringing the Ready
Player One franchise to the metaverse across web3. For more
information, visit futureverse.com.
About Animoca BrandsAnimoca Brands (ACN:
122 921 813), a Deloitte Tech Fast winner, a Fortune
Crypto 40 company, one of the Top 50 Blockchain Game
Companies 2024, and one of the Financial Times’ High Growth
Companies Asia-Pacific 2023, is a Web3 leader that leverages
blockchain to deliver digital property rights to consumers around
the world to help to establish the open metaverse. The company
develops and publishes a broad portfolio of products including
original games such as The Sandbox, PHANTOM GALAXIES™,
Life Beyond, and Crazy Defense Heroes, and products
utilizing popular intellectual properties from the worlds of sports
and entertainment, such as The Walking Dead, Power Rangers,
MotoGP™, and Formula E. It has multiple subsidiaries,
including The Sandbox, Blowfish
Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca
Brands Japan, Grease Monkey Games, Eden
Games, Darewise Entertainment, Notre
Game, TinyTap, SPORTPASS, PIXELYNX, WePlay
Media, Gryfyn, and Azarus. Animoca Brands is one of the
most active investors in Web3, with a portfolio of over 400 Web3
investments, both directly and through Animoca Ventures, including
Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden,
Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many more.
For more information visit www.animocabrands.com or
follow on X
(Twitter), YouTube, Instagram, LinkedIn, Facebook,
and TikTok.
Press
contactsFutureverse: futureverse (at)
wearetheuntold.com
Animoca Brands: press (at) animocabrands.com
The Untold
futureverse (at} wearetheuntold.com