Futureverse Partners with PIP Labs to Advance Intellectual Property Solutions
Futureverse, a company specializing in AI and metaverse technologies, has entered into a memorandum of understanding with Web3 entity PIP Labs, a key player behind Story. This collaborative effort aims to synergize Futureverse’s advanced technology and comprehensive intellectual property (IP) portfolio with The Root Network, enhancing the Story platform. Story, a specially designed Layer 1 blockchain, aims to transform intellectual property into programmable digital assets, providing innovative methods for creators and brands to register, manage, and monetize their digital assets on the blockchain.
The Importance of Interoperability in Intellectual Property
The Root Network is engineered to fulfill the need for interoperability of IP assets, regardless of their origin, thereby increasing value for both owners and collectors. Traditionally, the management of intellectual property has been hindered by disjointed and centralized systems, which restrict the ability of IP holders and creators to fully control, license, and capitalize on their creations. As digital content proliferates, it becomes crucial to maintain transparency, enforceability, and interoperability of IP across various platforms. This partnership aims to tackle these issues by utilizing blockchain technology to form a decentralized and programmable framework for intellectual property, promoting a more transparent and creator-focused digital economy.
Collaboration to Enhance IP Monetization
Through this alliance, Futureverse and PIP Labs, the primary contributor to Story, will join forces to onboard, expand, and monetize Futureverse’s vast IP portfolio within the Story blockchain ecosystem. Futureverse, via Readyverse Studios, holds exclusive rights to popular IPs, including the Ready Player One/Two franchises. The partnership will also investigate the integration of Story-enabled applications into Futureverse’s The Readyverse platform, aiming to improve interoperability across various metaverse experiences, games, and applications. Furthermore, efforts will be made to incorporate Futureverse’s Pass platform into the Story network, simplifying the onboarding process for millions of users.
Transforming Digital Asset Ownership
“On-chain IP signifies a revolutionary change in how digital assets are owned, monetized, traded, and developed,” stated Jason Zhao, chief protocol officer of PIP Labs. He emphasized that the collaboration with Futureverse marks a significant move toward establishing a more open and programmable environment where creators and brands can exert greater control over their intellectual property.
Futureverse: A Leader in AI-Driven Metaverse Technology
Futureverse’s expertise in AI-driven metaverse technology is further underscored by its successful $54 million Series A funding round, backed by prominent investors such as Ripple and 10T Holdings. Co-founded by Ernest Cline, the acclaimed author of the Ready Player One/Two series, which was adapted into a major film directed by Steven Spielberg, Futureverse stands out for its strong integration of technology and narrative, positioning itself to spearhead the future of intellectual property in the digital landscape.
Strategic Initiatives for IP Integration
Under the terms of the agreement, Futureverse will work alongside PIP Labs to pinpoint IP assets suitable for registration on Story, incorporate Story-enabled applications into The Readyverse Launcher, and promote collaborations within the ecosystem. This initiative will include integrating Story IP into Futureverse’s OP3N metaverse infrastructure and utilizing IP characters generated by Sekai within Futureverse’s gaming environments. Additionally, Futureverse’s state-of-the-art AI tools—including Jen, a text-to-music generator, Altered State, a 3D generative AI tool, and the innovative Universal Blueprint Framework (UBF)—will be employed to create and enrich user-generated content across gaming and metaverse applications.
Vision for the Future of Digital Property Rights
“We are thrilled to partner with Story to enhance the value of tokenized intellectual property and foster greater interoperability within the Web3 space,” remarked Aaron McDonald, CEO of Futureverse. He emphasized that digital property rights represent a fundamental innovation of blockchain technology, and through this collaboration, they aim to demonstrate the significance of ownership via improved interoperability.
This partnership signifies a pivotal moment in the advancement of on-chain intellectual property, positioning both Story and Futureverse at the leading edge of the Web3 revolution.
