What’s next for Ripple once the SEC victory is over?
Futureverse, an AI-Metaverse startup, has secured $54M in funding with Ripple as a key investor. The partnership will involve the implementation of Ripple’s XRPL to the Root Network and the rollout of the XLS-20 NFT standard for metaverse transactions. The funding will be used to scale technologies and develop tools for an open and interoperable infrastructure. Futureverse aims to bring the metaverse from concept to reality with collaborations from industry giants and public figures. After the legal battle with the SEC, which resulted in a partial victory for Ripple, SEC Chairman Gary Gensler expressed dissatisfaction with the court’s decision on individual investors but reaffirmed the SEC’s commitment to taking legal actions against crypto firms. The court ruling is expected to drive more adoptions to the Ripple token (XRP) and Ripple plans to negotiate with financial companies for cross-border transactions.
