Even though the sector’s involvement has declined in recent years, Futureverse, an AI and metaverse technology company, announced on Wednesday that it has acquired Candy Digital, a digital collectibles system.
The deal gives Futureverse exposure to the latter’s extensive blue-chip company portfolio, which includes DC Comics, Netflix, and Major League Baseball.
According to Aaron McDonald, co-founder and CEO of Futureverse, those companies “already sit at the intersection of modern and real-world fandom,” according to a speech shared with .
Futureverse plans to eventually integrate its technology with Candy’s well-known intellectual property alliances, with the acquisition giving it access to Candy’s collection of over 4 million digital collectibles and 1.5 million customers.
Futureverse claims that involving these companies and stories may enable it to create and “build interactive experiences” and “enhance company loyalty”.
The company has established itself as a head in the creation of equipment for what it calls the “open universe” since its establishment in late 2022 and after its$ 54 million Sequence A about two years ago.
According to Callaghan Innovation, New Zealand’s state development agency, the company was past valued in 2023 at approximately$ 1 billion, making it the first Mori-founded dragon.
The Root Network, Futureverse’s layer-1 cryptocurrency designed to address concerns over intellectual property protection, may integrate Candy’s material collection. Futureverse thinks the integration will enable the companies that have partnered with Candy Digital to” carefully use” and safeguard their IP.
” Healthy shift”
According to Candy Digital’s co-founder and senior vice president Matt Novogratz, the merger was a “natural shift” for the company. Futureverse, he adds, has “patented systems” that has helped determine how brands interact with customers in the modern world, “where most relationships take place.”
However, projects like Futureverse are concerned by mistrust over the term “metaverse,” which is fueled by the general decline in the market for NFTs.
These trends in the crypto market have declined over the years, from declining sales of highly anticipated collections to big tech companies shutting down their NFT projects.
Futureverse has, however, grown quickly as a result of proper acquisitions and concurrent partnerships.
Among them were Internet partnerships with Warner Bros., FIFA, and Reebok. In addition to these, the company’s engineering stack includes developer tools for creating integrated digital experiences, blockchain infrastructure, and conceptual AI tools.
As part of the merger, Candy Digital’s buyers, including Galaxy Digital, ConsenSys Mesh, and Microsoft, may join the Futureverse habitat.
The precise terms of the agreement were never made public. Futureverse did not respond to right away on that issue.
edited by Sebastian Sinclair
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