Co-founders Shara Senderoff and Aaron McDonald of Futureverse, a rapidly emerging Metaverse startup, have embarked on an ambitious new venture. In the wake of securing a $54 million funding round, they have now inaugurated a $50 million initiative titled Born Ready. Awash with the aura of innovation, Born Ready has declared its primary focus: catapulting early stage Web3 and metaverse technology investments.
This move doesn’t come unexpected. Futureverse, launched in the waning months of 2022 through the amalgamation of eight companies – with three more consolidating subsequently – stands today as a beacon of creativity in the Web3 domain. Its proprietary projects, the whimsically charming FLUF World featuring non-fungible token (NFT) cartoon rabbits, and the mobile AI League soccer game are testament to the startup’s knack for nurturing the nascent.
The Series A funding round, under the leadership of 10T Holdings and marked by valued participation from Ripple Labs, set the stage for Futureverse’s latest endeavor. The Born Ready fund pledges to distribute between $250,000 and $1 million to each handpicked project, aiming to give wings to the dreams of many.
Their outstretched hands are not blind. Born Ready’s funds have already found destinations – a buffet, one would say. Among the recipients are FCTRY Lab – a high-tech sneaker startup, Power’d Digital – a new entrant in the Web3 realm, and blockchain gaming companies Polemos and Walker Labs.
However, amidst this futuristic rush, lingering scepticism cannot be brushed aside. Just as the adage goes, “with great power comes great responsibility,” and Born Ready’s loaded coffers comes with its share of risks and obligations. While their investments promise innovation, it begs the question whether the fund’s beneficiaries are indeed ‘born ready’? Can they scale, adapt, and evolve with the fast-paced, unpredictable Web3 environment? Furthermore, one must wonder whether the infusion of such considerable funds could possibly create unsustainable asset bubbles.
So, while there is much to anticipate about Futureverse’s Born Ready and their planned accelerator program, a degree of caution is warranted. Potential breakthroughs must be tempered by pragmatic concerns about viability, longevity and sustainability in the volatile landscape of blockchain technology. As we accelerate into the Web3 and Metaverse era, we should not lose sight of the rocky road that may lie beneath our high-tech hoverboards.
Source: Coindesk
