The Ready Player One Franchise Comes to the Metaverse
A partnership between metaverse startup Futureverse, 10T Holdings, Ripple Labs, and Warner Bros. Discovery aims to bring the Ready Player One franchise into the metaverse. The collaboration, known as Readyverse Studios, plans to integrate major IPs into a multi-world open ‘metaverse experience.’ Ernest Cline, the author of Ready Player One, and Dan Farah, the producer of the film adaptation, are both involved in the venture.
Joint Products Coming in 2024
While specific financial and technical details have not been disclosed, Futureverse has announced that the joint products will be launched in 2024 on The Root Network. The network utilizes ROOT tokens for security and governance and Ripple’s XRP for gas fees. Following this announcement, the price of ROOT surged by over 14%.
Futureverse’s Series A Funding Round
Futureverse raised $54 million in a Series A funding round led by 10T Holdings and with participation from Ripple Labs. Prior to this funding round, Futureverse integrated The Root Network with XRPL and supported the XRPL-based non-fungible token standard XLS-20 NFT.
The Risks of Virtual Reality
A report from NYU Stern’s Center for Business and Human Rights highlights concerns about privacy and psychological harm in virtual reality (VR) experiences. The report emphasizes the need for a comprehensive privacy law to protect consumers’ privacy and limit the use of body-based data. It also suggests reinforcing the Federal Trade Commission’s mandate to protect consumers against unfair practices by technology companies.
Hot Take: Ensuring Privacy and Safety in the Metaverse
The partnership between Futureverse, Warner Bros. Discovery, and other key players to bring the Ready Player One franchise to the metaverse is an exciting development. However, as virtual reality experiences become more immersive, it is crucial to address privacy concerns and protect users from potential psychological harm. Implementing comprehensive privacy laws and reinforcing regulatory bodies can help ensure the safety and well-being of individuals in the metaverse. By striking a balance between innovation and user protection, the metaverse can truly become a transformative and inclusive space.
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