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Futureverse, a metaverse startup supported by 10T Holdings and Ripple Labs, has announced a partnership with Warner Bros. Discovery to bring Ernest Cline’s Ready Player One novel into the metaverse experience. This collaboration aims to create Readyverse Studios, integrating major IPs into the metaverse. The venture also involves Dan Farah, the producer of the 2018 Warner Bros. film adaptation of the novel, as a co-founder.
Financial and technical details of the initiative have not been disclosed. However, joint products are set to launch in 2024 on The Root Network, a distributed ledger using ROOT tokens for security and governance, and Ripple’s XRP for gas fees. Following this news, ROOT’s price increased by over 14% to $0.073, as reported by CoinGecko.
Futureverse, established in late 2022, secured $54 million in a Series A funding round led by 10T Holdings, with participation from Ripple Labs. The startup integrated The Root Network with XRPL and supported the XRPL-based non-fungible token standard known as XLS-20 NFT.
Concerns about the metaverse have been raised by NYU Stern’s Center for Business and Human Rights in mid-September 2023. The Center emphasized the need for comprehensive privacy laws due to significant privacy threats within the virtual reality space. The report highlights potential psychological harm from virtual experiences, stressing the importance of protecting consumer privacy and limiting the use of body-based data.
In light of these developments, it is crucial for users to be aware of the risks associated with virtual reality spaces and the importance of protecting privacy and data in the metaverse. Stay informed and explore more news on Global Crypto News for the latest updates in the world of cryptocurrencies and finance.
