Ripple Labs has helped raise a $54 million investment in AI startup Futureverse

Ripple Labs helped raise a $54 million investment in AI startup Futureverse
Ripple Labs has helped raise a $54 million investment in AI startup Futureverse
The company also announced a partnership with Ripple that includes integration using the XRP token

Crypto startup Futureverse has raised a $54 million investment with the help of Ripple Labs in another round of funding led by 10T Holdings, The Block reports.

Futureverse's platform "includes a robust set of AI-driven content creation tools designed to enhance the music, objects, characters, and animations that make up the meta-universe," the company said in a statement.

One of Futureverse's main goals is to create the technological infrastructure underpinning the user experience in the meta-universe. As a spokesperson noted in a commentary for Bloomberg, while NFT and blockchain technologies "are an important part of Futureverse's business," that's not all the company does and it's only "about 10% of the total technology stack."

The startup has already noted collaborations with various companies and individuals, including FIFA, Mastercard, music label Death Row Records, rapper Snoop Dogg, and actor Keanu Reeves.

The company also previously announced a partnership with Ripple that includes integration using the XRP token, the value of which rose last week after a U.S. federal court ruled on July 13 that neither sales nor other forms of token distribution, nor sales of XRP tokens to private investors, equate to investment contract transactions, meaning the tokens are not recognized as securities.

In July, the a16z Fund and Snoop Dogg helped raise $20 million for music NFT startup Sound.

Ripple Labs helped raise a $54 million investment in AI startup Futureverse

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