Ripple has recently shifted its focus from the ongoing lawsuit with the SEC after receiving a partially favorable ruling from Judge Analisa Torres. The ruling stated that XRP tokens sold on the secondary market are not securities. As a result, Ripple has redirected its attention towards other ventures. The company has recently invested in Futureverse, a metaverse sector, as part of a significant funding round.
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Ripple joins $54M funding round for metaverse startup. Ripple Joins $54 Million Funding Round For Futureverse
Futureverse, a metaverse startup, has reportedly raised $54 million in a Series A funding round led by 10T Holdings, a crypto investment firm. The funding round drew the attention of Ripple Labs, which also participated. This is notable as it occurred during a time when funding for crypto-related companies is declining. Futureverse is a combination of 11 startups that operate in various industries, including metaverse, gaming, and artificial intelligence (AI). The valuation of the company has not been disclosed. Ripple joins $54M funding round for metaverse startup.
Futureverse has been combining metaverse, gaming, and AI in its products. One of its mobile games, 'AI League', is a football (soccer) game that has been licensed by FIFA. The company's next product will be a boxing game that will leverage the power of AI.
Ripple has regained its position in the crypto industry after the court's ruling against the SEC last week. This has resulted in renewed interest in both the company and its native token, XRP. Ripple is looking to leverage real-world assets, which it expects to reach a $30 trillion market cap in the next decade.
After the ruling, the price of XRP increased by over 60%, bringing the digital asset to its highest level since December 2021. XRP has continued to perform well, with its average weekly volume surpassing that of Bitcoin, making it one of the top performers in the space.
Currently, XRP is priced at $0.791, representing a 4.92% increase in the last 24 hours. On the 7-day chart, the cryptocurrency has seen gains of 67% and is now the 4th-largest cryptocurrency, with its market cap resting at $41.5 billion.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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