Multiverse, a decentralized artificial intelligence ecosystem that finances early-stage te companies, has raised $ 15 million in investments from some of blockchain’s largest enterprise finance companies.
Samsung Next, a developer ecosystem focused on AI, blockchain and fintech, was among the investors, along with Arrington XRP Capital, Huobi Ventures and Fenbushi, Multiverse announced Wednesday. With the rise, Multiverse now has an implicit valuation of $ 250 million, making it one of the largest financial ecosystem funds at the intersection of blockchain and AI.
The investment will aim to expand the capacity of Multiverse through engineering, research and marketing. The organization is looking at a larger presence in Europe and Southeast Asia.
Related: New Samsung Paperless service adds document deletion to enterprise blockchain
Multiverse allows early software designers to experiment with ideas and solicit feedback as they test their concepts. Users of platforms themselves can earn rewards for their contributions through the AI token that belongs to the Multiverse platform.
Cliff Szu, co-founder of Multiverse Labs, said his platform provides a safe space for developers to evaluate their ideas and receive feedback from an experienced community.
“Many potential founders decide that the risks outweigh the rewards, or simply don’t have access to outside capital, especially in emerging economies,” he said. “So we create a safe space for them to thoroughly assess the potential of their ideas, and learn from a helpful and experienced community that can contribute to their success at the earliest stage.”
Blockchain development studios have recently come into operation as more companies aim to foster innovations in the nascent industry. As Cointelegraph reported, crypto unicorn Amber Group has launched a new platform for creators of non-fungal tokens or NFT. Cryptography experts have also made their services available for a mentoring program centered around Solana’s high-quality blockchain.
As for venture capital, investors have poured billions into blockchain start-ups this year alone – a feat that has not been affected by the multi-month drop in cryptocurrency.
Related: CoinFund debuts $ 83M crypto start-up fund