Odaily Planet Daily News The well-known cryptocurrency venture capital firm Outlier Ventures and the AI metaverse company Futureverse have launched an accelerator program to help startups design applications for the open metaverse.
Futureverse Base Camp is a 12-week accelerator program that will provide $100,000 in development capital to participating startups building on the Root Network, the company said in a statement. Root Network is Futureverse's "public decentralized blockchain network optimized for Metaverse applications and experiences".
In addition to guidance from Outlier and Futureverse, between six and 10 startups may be selected for a total of $600,000 to $1 million in funding for the program’s first tranche and subsequent iterations, according to people familiar with the matter.
Leveraging AI, Futureverse said it has a set of “proprietary” tools designed to help build and operate an open metaverse powered by blockchain technology. The company recently raised $54 million in Series A funding. Ripple Labs, a well-known provider of crypto payment solutions, participated in a funding round led by 10T Holdings. (The Block)