Metaverse startup Futureverse's founders establish $50M fund for new ventures

Pioneering startup ‘Futureverse,’ known for its work in the Metaverse, has made an exciting move just two weeks after announcing a new funding round. Co-founders Shara Senderoff and Aaron McDonald are now launching a creative initiative called ‘Born Ready,’ a venture fund and studio.

This ambitious project, with a substantial fund of $50 million, aims to focus on providing initial support for projects in the dynamic fields of web3 and Metaverse technologies. The company's official press release has highlighted the objectives of this innovative endeavour.

What is the Futureverse?

Futureverse, which was formed in late 2022 by the merging of eight independent organisations, has proceeded to grow by absorbing three additional companies. FLUF World, a collection of unique digital products called non-fungible tokens (NFTs) that feature beautiful cartoon rabbits, is one of its notable endeavours. The AI League, a mobile football game that uses innovative technology, is another of their ideas.

In a recent development, Futureverse revealed that it has successfully raised $54 million in a Series A fundraising round. This achievement was made possible by a key investment from 10T Holdings, as well as valuable involvement from Ripple Labs.

Unveiling the Born Ready fund

The focus of this announcement stays firmly on the recently disclosed ‘Born Ready’ fund. With a committed fund of $50 million, this effort is set to give critical support to businesses and projects in their early phases.

According to information revealed by the Futureverse team in an interview with Fortune magazine, the financing range for each project will be between $250,000 and $1 million. This fund is distinguished by its emphasis on investments in the dynamic domains of web3 and Metaverse technologies. These cutting-edge sectors include unique methods of connecting with the internet and digital places.

Born Ready promising investments

The Born Ready fund has already commenced its investment journey by backing several noteworthy ventures. Notable recipients of this support include FCTRY Lab, a startup specialising in high-tech sneakers, and Power’d Digital, a promising player in the web3 startup arena.

Additionally, the fund has directed its capital towards enterprises in the domain of blockchain gaming, namely Polemos and Walker Labs. With its strategic investments, Born Ready aims to nurture innovation and drive growth in these emerging sectors.