Ripple joins $54M funding round for Metaverse startup

Ripple joins $54M funding round for Metaverse startup

Ripple Joins $54 Million Funding Round For Futureverse

The blockchain industry is known for its constant innovation and development, and Ripple is at the forefront of this progress. While the company has been preoccupied with its ongoing lawsuit with the United States Securities and Exchange Commission (SEC), there have been recent exciting developments that have caught the attention of the crypto community.

Last week, Judge Analisa Torres delivered a partially favorable ruling in favor of Ripple, stating that XRP tokens sold on the secondary market are not securities. This ruling has provided a boost of confidence to Ripple and its native token, XRP. With this renewed vigor, Ripple has turned its attention to other opportunities within the blockchain industry.

In a recent report by Bloomberg, it was revealed that Ripple has joined a massive funding round for a metaverse startup called Futureverse. The funding round raised a total of $54 million, although the valuation of Futureverse remains undisclosed. The raise was led by 10T Holdings, a prominent crypto investment firm, and Ripple Labs also participated in the funding round.

This investment by Ripple is significant, considering the current decline in funding for crypto-related companies. It demonstrates Ripple’s confidence in the potential of the metaverse sector and its commitment to supporting innovative startups within the blockchain industry.

Futureverse itself is an intriguing combination of 11 startups, each specializing in different industries such as metaverse, gaming, and artificial intelligence (AI). The convergence of these diverse sectors brings forth exciting possibilities for Futureverse and the broader blockchain industry.

One of Futureverse’s notable products is the ‘AI League,’ a mobile football (soccer) game that has been licensed by FIFA. This game showcases the integration of metaverse, gaming, and AI technologies, creating an immersive and engaging experience for users. Futureverse’s next gaming product is set to be a boxing game that leverages the power of AI.

The recent success and positive sentiment surrounding Ripple can be attributed to the court’s ruling against the SEC. This victory has allowed Ripple to regain its foothold in the crypto industry, leading to a surge in both the company’s reputation and the value of its native token, XRP.

Following the ruling, the price of XRP experienced a significant increase of over 60%, reaching its highest level since December 2021. This bullish trend has continued, with XRP surpassing Bitcoin in terms of average weekly volume and emerging as one of the top performers in the space.

Currently, the price of XRP sits at $0.791, representing a 4.92% increase in the last 24 hours. Over the past seven days, the cryptocurrency has seen gains of 67%, solidifying its position as the fourth-largest cryptocurrency with a market cap of $41.5 billion.

Ripple’s involvement in the funding round for Futureverse showcases the company’s commitment to driving innovation and growth within the blockchain industry. By supporting startups that combine cutting-edge technologies such as metaverse, gaming, and AI, Ripple is contributing to the evolution of the digital landscape.

This investment not only strengthens the blockchain industry’s ecosystem but also highlights the potential of the metaverse sector as a catalyst for further advancements. Just as Futureverse brings together various startups to create something greater than the sum of its parts, the blockchain industry continues to foster collaboration and synergy, fueling progress and propelling the industry into the future.

XRP Performance
Metric Value
Price (USD) $0.791
24-hour change 4.92% increase
7-day change 67% gain
Market Cap $41.5 billion
Rank 4th-largest cryptocurrency

In conclusion, Ripple’s participation in the $54 million funding round for Futureverse showcases the company’s resilience and commitment to advancing the blockchain industry. The convergence of metaverse, gaming, and AI technologies within Futureverse’s products highlights the potential for innovative and immersive experiences in the digital realm. With the recent court ruling in their favor, Ripple and XRP have experienced a resurgence in the market, solidifying their position as key players in the blockchain industry. As the industry continues to evolve, collaborations like the one between Ripple and Futureverse will fuel further growth and innovation, shaping the future of blockchain technology.