This gaming startup tries to show ‘AI + crypto’ is not a fad
techcrunch.comBefore the world became fixated on artificial intelligence, thanks to generative AI’s advances, cryptocurrency was the darling of many investors. So when some venture capital firms started swiftly switching their focus between AI and crypto, the industry’s onlookers scorn their opportunism. Meanwhile, a wave of entrepreneurs emerged as fervent advocates for the convergence of AI and crypto. Vitalik Buterin, the core founder of the Ethereum blockchain network, posted an article last month musing on the four possible applications of “AI + crypto,” sparking enthusiasm among his Twitter followers. The use cases have yet to be proven at scale.
A startup based out of Singapore is trying to show that the combination of AI and crypto isn’t just a fad. Ultiverse, which purports to be an “AI-powered” platform for crypto game production and publishing, has secured support from some reputable investors. It recently raised $4 million in a strategic funding round led by IDG Capital, a venture capital firm known for its investment in Chinese tech titans Tencent, Baidu, Xiaomi as well as crypto upstarts Coinbase and Circle, among others.
Other investors that participated in the round include Animoca Brands, Polygon Ventures, MorningStar Ventures, Taiko, ZetaChain, Manta Network, DWF Venture and Jacob KO. The fresh investment boosted Ultiverse’s valuation to $150 million.
Exactly how is Ultiverse using AI in its crypto-verse? In an interview with TechCrunch, the company’s co-founder Jimmy Liu, who previously ran his family’s private equity firm, suggested that AI can be used to “accelerate production and user adoption.”
Rather than building AI models from scratch, Ultiverse is using existing large language models, such as GPT-4, Llama and Stable Diffusion, to train its in-game non-player characters so each player will have a different experience depending on their interaction with the NPCs. Players can also create their own AI agents to act on their behalf.
“This sort of production
Read more on techcrunch.com
