Multiverse is a decentralized artificial intelligence ecosystem that provides funding for early-stage technology companies. It has received $15 million in investment from some of the largest blockchain venture funds.
Multiverse announced on Wednesday that Samsung Next, a developer ecosystem focused on artificial intelligence, blockchain and financial technology, has become one of the investors together with Arrington XRP Capital, Huobi Ventures and Distributed Market. With this financing, Multiverse now has an implied valuation of $250 million, making it one of the largest ecosystem developer funds in the intersection of blockchain and artificial intelligence.
The investment will be used to expand Multiverse’s engineering, research and marketing capabilities. The organization is looking at expanding operations in Europe and Southeast Asia.
Multiverse allows early project developers to try out ideas and solicit feedback as they test their concepts. Platform users themselves can get rewards for their contributions through the native AI tokens of the Multiverse platform.
Cliff Szu, co-founder of Multiverse Labs, stated that his platform provides a safe space for developers to evaluate their ideas and get feedback from a knowledgeable community.
“Many potential founders believe that the risk is greater than the return, or that external capital is simply not available, especially in emerging economies,” he said. “Therefore, we are creating a safe space for them to thoroughly evaluate the potential of their ideas and learn from a supportive and knowledgeable community that can contribute to their success as early as possible.”
Blockchain development studios have recently received increasing attention as more and more companies hope to promote innovation in emerging industries. As Cointelegraph reported, Crypto unicorn Amber Group launched a new platform Suitable for creators of non-fungible tokens or NFTs.Subject matter experts in the field of encryption are also Provide their services A mentor program centered on Solana’s high-performance blockchain.
In terms of venture capital, Investors have invested billions of dollars in blockchain startups This year alone-this feat has not been affected by the monthly downward trend in cryptocurrency prices.