Futureverse and Animoca Brands Announce Partnership

Futureverse and Animoca Brands have signed a Memorandum of Understanding (MoU) for a strategic partnership. This collaboration aims to enhance Futureverse’s metaverse technology with Animoca Brands’ blockchain-based products. The partnership will also support Futureverse’s token ecosystem, featuring The Root Network’s ROOT token, the ASTO token for AI protocols, and the SYLO token for communications. The companies plan an equity swap valued at $5 million.

Both companies aim to expand the Futureverse Platform and its AI technology through Animoca Brands’ investments in over 400 Web3 projects. Futureverse has created The Root Network, optimized for the open metaverse. The partnership will grow Futureverse’s token ecosystem.

Futureverse offers AI and metaverse tools blending Web2 and Web3 features. These include Pass for managing identity and data; DOT for creating digital collectibles; and the Swappables and Wearables Engine for app and game developers. Futureverse also leads in generative AI with DOC for text-to-3D creation and JEN, a text-to-music platform.

Recently, Futureverse showcased its technology with Reebok Impact, an AI fashion experience on Instagram for creating custom digital sneakers. This project demonstrates Futureverse’s commitment to user-friendly Web3 technology with digital ownership benefits.

Futureverse also announced The Readyverse, developed by Readyverse Studios in partnership with Warner Bros. Discovery, to bring the Ready Player One franchise to the metaverse. The Readyverse will use the Futureverse Platform and The Root Network for an innovative metaverse experience.

The partnership includes working with Mocaverse, Animoca Brands’ growth network, to improve interoperability across the Moca Network.

The equity swap involves Animoca Brands subscribing for Futureverse shares, valuing Futureverse at $754 million. Futureverse will subscribe for shares in Animoca Brands Corporation Limited at A$4.5 per share, resulting in approximately 1,658,375 Animoca Brands shares. The transaction requires board approvals and definitive agreements and is expected to conclude within two months.

Management Commentary

Aaron McDonald, Futureverse co-founder, said, “Animoca Brands is the clear market leader in Web3 game publishing. 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.”

Yat Siu, executive chairman and co-founder of Animoca Brands, stated, “We are excited to partner with Futureverse, whose innovative AI and metaverse technologies are set to transform the digital landscape. 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.”