The metaverse startup project “Futureverse”, which operates in many sectors including blockchain, raised $54 million in the Series A financing round, which also included Ripple Labs (XRP).

According to Bloomberg's news dated July 18, the startup "Futureverse", which consists of 11 companies and operates in various sectors, received an investment of $54 million with an undisclosed valuation in the Series A financing round.

It was stated that the company operates in many sectors, including gaming, blockchain, artificial intelligence and metaverse. Futureverse's funding round was led by crypto investment firm 10T Holdings. It was noted that among the investors participating in the round was the crypto payment services provider Ripple Labs, which recently won a partial victory for the cryptocurrency ecosystem in its lawsuit with the SEC.

Company co-founder Shara Senderoff said that one of Futureverse's core missions is to provide technology infrastructure for metaverse experiences. However, another founder, Aaron McDonald, stated that blockchain plays an important role in their business, but they do not prefer to be described as a blockchain company:

I don't want people to think of us as a blockchain company because that's like 10% of the technology stack that we have.

In addition, McDonald stated that the recession in the cryptocurrency industry last year made raising financing a challenging process. Stating that approximately 20% of the employees were laid off during the restructuring process of the company and that they currently have 250 employees, McDonald added that these events put the company in a more competitive position.

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