Futureverse and Animoca Brands Forge Strategic Partnership to Advance AI and Metaverse Technologies

Futureverse (ASX: FVT) has entered into a non-binding Memorandum of Understanding (MoU) with Animoca Brands (ASX: AB1) for a strategic partnership to enhance the reach and capabilities of Futureverse’s advanced metaverse technology stack.

The partnership will see Futureverse and Animoca Brands work to integrate Futureverse’s technology throughout Animoca Brands’ extensive portfolio of Web3 investments.

Animoca Brands has a portfolio of over 400 Web3 investments, including some of the biggest names in the industry such as Yuga Labs, Axie Infinity, Polygon, Consensys, Magic Eden, Fireblocks, OpenSea, Dapper Labs, and Yield Guild Games.

The partnership will also contribute to 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.

As part of the partnership, Futureverse and Animoca Brands will undertake an equity swap involving shares of each other (or their respective group companies) valued at US$5 million.

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.

Futureverse co-founder Aaron McDonald said: “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.”

Animoca Brands executive chairman and co-founder Yat Siu said: “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.”