Introduction
Metaverse startup Futureverse, supported by 10T Holdings and Ripple Labs, has recently announced a groundbreaking partnership with Warner Bros. Discovery. This collaboration is set to bring Ernest Cline’s acclaimed novel, Ready Player One, to life in a sprawling metaverse environment.
Unveiling the Readyverse Project
On January 4, Futureverse, based in New Zealand, revealed their partnership in an extensive thread. Teaming up with Ernest Cline, author of Ready Player One, and Dan Farah, producer of the novel’s 2018 film adaptation, the venture is named Readyverse Studios. Its mission is to integrate major intellectual properties into the metaverse, creating a multi-world experience.
Financial Insights and Technical Aspects
While specific financial and technical details remain undisclosed, Futureverse has announced that the joint products are expected to launch in 2024. These will operate on The Root Network, leveraging ROOT tokens for security and governance, and Ripple’s XRP for transaction fees. Following this announcement, ROOT’s value jumped significantly.
Futureverse’s Journey and Funding
Formed in late 2022, Futureverse secured $54 million in Series A funding, with 10T Holdings and Ripple Labs playing pivotal roles. The startup has previously integrated The Root Network with XRPL and supported the XRPL-based XLS-20 NFT standard.
The Challenges of Virtual Reality
NYU Stern’s Center for Business and Human Rights has highlighted potential risks associated with the metaverse. A report from the Center stresses the importance of a comprehensive privacy law to mitigate significant threats, including psychological harm and opportunities for abuse in virtual spaces.
Legislative Recommendations
The report advocates for Congressional action on a comprehensive privacy law and suggests reinforcing the Federal Trade Commission’s role in protecting consumers from deceptive technology practices. Additionally, it proposes establishing a federal body dedicated to overseeing these issues.
