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Shara Senderoff and Aaron McDonald, the co-founders behind the artificial intelligence and metaverse company Futureverse, have launched a dynamic new venture fund and studio named “Born Ready,” backed by $50 million.
This initiative, as announced on August 3, aims to invest in emerging technology ventures that exhibit potential for collaboration with either Futureverse or the metaverse blockchain entity known as The Root Network.
Already, Born Ready has directed its investments towards firms like FCTRY Lab, Power’d Digital, Polemos, and Walker Labs.
Notably, Shara Senderoff previously established Raised in Space, a blockchain venture fund that has significantly backed over 20 crypto startups, while Aaron McDonald brings a wealth of experience from his role as co-founder and managing director of NetX Fund, which holds investments in more than 60 portfolio companies.
The visionary duo has outlined plans to launch an accelerator program in the near future, further solidifying their commitment to nurturing innovative ventures.
Futureverse itself recently secured $54 million in a Series A funding round led by 10T Holdings and Ripple Labs, effectively consolidating 11 metaverse companies into a unified ecosystem. This funding infusion is earmarked for the development of the Futureverse platform known as The Root Network, a blockchain dedicated to fostering metaverse decentralized applications.
Meanwhile, in the realm of Web3 and crypto venture capital funding, the sector experienced a 79% year-over-year decline, amounting to $779 million across 62 deals in June.
This significant shift in allocation saw the lion’s share of new funding directed toward blockchain infrastructure projects, with a relatively modest sum of less than $2.5 million dedicated to nonfungible token projects.