Business News Report
February 14, 2024

Ultiverse Raises $4M Funding for Web3 Game Production and Publishing Expansion

In Brief

AI-powered gaming platform Ultiverse raised $4 million funding through a private token sale to expand Web3 game production and publishing.

Ultiverse Raises $4M Funding for Web3 Gaming Production and Publishing Expansion

AI-powered gaming platform Ultiverse announced that it raised $4 million funding through a private token sale for Web3 game production and publishing.

According to the announcement, this round is led by IDG Capital, followed by Animoca Brands, Polygon Ventures, MorningStar Ventures, Taiko, ZetaChain, Manta Network, DWF Ventures, and Jacob KO (Partner of Superscrypt).

“The capital allows us to accelerate our vision of building the most intuitive AI-powered platform for web3 game creation,” said Frank Ma, CEO of Ultiverse. “Going forward, Ultiverse remains committed to delivering an ecosystem with accessible tools and captivating experiences to nurture the next generation of AI-driven Web3 games.”

“Next week, Ultiverse will release Ulti-Pilot, an immersive portal to the universe’s diverse gaming experiences, powered by AI. It is one step closer to materializing gaming interoperability through AI and blockchain. The team plans to launch Gaming Launchpad, Restake Rollup and dApps in the future.” Frank Ma added.

Moreover, Ultiverse is preparing to introduce Ulti-Pilot, a platform offering a variety of gaming experiences across the universe, enhanced by AI technology. The platform is designed to promote gaming interoperability by incorporating AI and blockchain integration. Future initiatives include the introduction of the Gaming Launchpad, Restake Rollup, and other decentralized applications (dApps).

Ultiverse Continues to Dominate Virtual Universe Landscape

Ultiverse, the pioneering virtual universe platform, continues its meteoric rise since its establishment in 2022. Some important achievements include the successful launch of its genesis NFT, Electrisheep, boasting an impressive floor price of 2 ETH and a substantial market cap of $30 million.

Founded by Frank Ma, Jimmy Liu, and Joe Chou, Ultiverse has rapidly expanded its user base, surpassing 7.3 million registered users as of December 2023. Furthermore, its Monthly Active Users (30-day average) have exceeded 830,000 globally, indicating a strong and growing community.

In terms of investment, Ultiverse has garnered significant support from esteemed backers in the previous funding round, including Binance Labs, Sequoia, DeFiance Capital, Emirates Consortium, MorningStar Ventures, GSR Ventures, and Foresight Ventures. This latest round of funding is valued at an impressive $150 million, underscoring investor confidence in the platform’s potential.

Since its inception, Ultiverse has achieved several key milestones, including the launch of its flagship NFT, Electrisheep, the unveiling of the Ultiverse Main World, and the introduction of AI-powered Non-Player Characters (NPCs) in the Terminus PC and Vision Pro versions on Steam. Additionally, Ultiverse has expanded its offerings with the release of three innovative decentralized applications (DApps): Meta Merge, Terminus City, and CricketFly.

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About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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