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Futureverse<\/a> has raised $54 million in a Series A funding round to scale its platform that will enable developers and users to create and engage with interoperable content and applications within the metaverse.<\/p>\n The company\u2019s technology suite features a range of artificial intelligence (AI) content creation tools to enhance the music, objects, characters and animations in the metaverse, Futureverse said in a Tuesday (July 18) press release<\/a>.<\/p>\n \u201cFutureverse combines next-level technological infrastructure and AI-driven content to create the open metaverse we all envision,\u201d cofounders Aaron McDonald<\/a> and Shara Senderoff<\/a> said in the release. \u201cWith the help of our tremendous partners 10T<\/a> and Ripple<\/a>, we are excited to take the metaverse from an abstract idea to a tangible, accessible and interactive destination.\u201d<\/p>\n Futureverse will use the new funding to advance the development of its Futureverse Platform and The Root Network, a blockchain and suite of protocols for building metaverse apps, games and experiences, according to the press release.<\/p>\n The company has already partnered with Ripple to integrate The Root Network with XRPL and support the use of XRP as a GAS token as well as the XLS-20 NFT standard, the release said.<\/p>\n The round was led by growth equity fund 10T Holdings, per the release.<\/p>\n Dan Tapiero<\/a>, CEO and chief investment officer of 10T, said in the release: \u201cFutureverse has developed an immersive and vertically-integrated metaverse platform that acts as an AI technology provider, metaverse infrastructure builder, layer 1 architect, creative studio and digital community all in one. We look forward to supporting Aaron and his experienced team as they continue to achieve significant real-world commercial traction and scale Futureverse\u2019s capabilities and offerings.\u201d<\/p>\n In another recent development around the metaverse, it was reported Thursday (July 13) that Bank of America is using the latest in AI, virtual reality and the metaverse<\/a> to create an immersive learning experience for its employees.<\/p>\n These technologies are used to help train staffers about such things as calming an angry customer or remaining calm themselves during a robbery, Bloomberg reported<\/a>.<\/p>\n About a month earlier, in June, retailer J. Crew<\/a> unveiled an immersive shopping experience<\/a> that includes 3D virtual stores that customers can effortlessly access from their smartphones or laptops.<\/p>\n