In an era where technology is rapidly advancing and industries are constantly evolving, it’s not uncommon to see new startups emerge with innovative solutions to improve outdated infrastructure. However, what happens when a startup looks to build infrastructure for an industry that seems to have hit its prime and zoomed past it in record time? This was the question I had when I came across news of Futureverse’s recent $54 million Series A round.
The Confusion Surrounding the Metaverse
Futureverse is a platform consisting of 11 companies, ranging from gaming studios and web3 payment enablers to blockchain startups providing tools for brands and builders to create content for the metaverse. But what exactly is the metaverse? Aren’t we all tired of hearing about it against our will? Haven’t we come to the realization that folks don’t want their social or work lives to look anything like Second Life?
A New Perspective on the Metaverse
Aaron McDonald, co-founder and CEO of Futureverse, had a different take on the metaverse. He believes that some of the more vocal players in the category have made it seem like it’s one thing – a virtual world – as opposed to what he sees it as: technology that could create a virtual world and also power a lot of other things. McDonald explained that it’s not dissimilar to how we think about the internet today compared to when the term was first coined – it’s no longer a thing, but rather the thing that powers applications and websites.
The Futureverse Vision
Futureverse defines the metaverse as the collection of interoperable applications built on top of user data. Their mission is to help people build more encompassing experiences where users don’t realize it’s run on the blockchain or utilizes NFTs. McDonald cited an example of a game they launched with FIFA for the World Cup, which was played by millions without anyone realizing it was running on the blockchain.
The Importance of Immersive Convergence
McDonald emphasized that we are already in the metaverse and that immersive convergence is becoming more prevalent. He explained that early traction has been seen on the idea of breaking down silos of user experience into a single user experience. This concept is at the heart of Futureverse’s vision for the metaverse.
A New Era for Startups
The metaverse presents a new era of opportunities for startups to innovate and disrupt traditional industries. With Futureverse leading the charge, it will be exciting to see how other startups follow suit and build on this foundation.
Conclusion
In conclusion, the metaverse is not something that’s coming – we are already in it. The confusion surrounding its definition is being cleared up by companies like Futureverse, who are building a new era of immersive experiences. Whether you’re aware of it or not, you’re already experiencing the metaverse.
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About the Author
Rebecca Szkutak is a senior writer at TechCrunch, covering venture capital trends and startups. She previously covered the same beat for Forbes and the Venture Capital Journal.
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