Before the world became fixated on artificial intelligence, 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.
Key Takeaway
Ultiverse, a Singapore-based startup, is leveraging AI and crypto to revolutionize the gaming industry. With a recent strategic funding round led by IDG Capital, the company has raised $4 million, boosting its valuation to
50 million.
The Rise of Ultiverse: AI-Powered Crypto Game Production and Publishing
Ultiverse, a startup based out of Singapore, is making waves in the gaming industry by demonstrating that the combination of AI and crypto is not just a passing fad. The company, which touts itself as an “AI-powered” platform for crypto game production and publishing, has garnered substantial support from reputable investors. In a recent strategic funding round led by IDG Capital, Ultiverse raised $4 million, propelling its valuation to $150 million.
AI Integration in Gaming: Redefining User Experience
Ultiverse is utilizing AI to accelerate production and user adoption in its crypto-verse. Co-founder Jimmy Liu highlighted the use of existing large language models, such as GPT-4, Llama, and Stable Diffusion, to train in-game non-player characters, offering each player a unique experience based on their interactions with the NPCs. Additionally, players have the ability to create their own AI agents to act on their behalf, enhancing the overall gaming experience.
Challenges and Opportunities in the Crypto Gaming Landscape
While Ultiverse’s adoption of AI in game design is noteworthy, the startup faces challenges in the competitive crypto gaming space. The perennial debate surrounding crypto games revolves around the generation of tangible value for the industry and the potential for profit from players. Despite these challenges, Ultiverse has published three games, including a mobile cricket game with 200,000 unique active wallet addresses, demonstrating its growing user base and market presence.
Seamless Integration of Non-Crypto Users
Ultiverse’s innovative approach has enabled the seamless integration of non-crypto users into its ecosystem. By leveraging a common crypto wallet feature called “account abstraction,” the company has successfully attracted non-crypto users, particularly from regions like India and Pakistan, where the sport of cricket enjoys immense popularity. This approach has facilitated the conversion of web2 gamers into active participants in Ultiverse’s web3 gaming ecosystem.
Revolutionizing the Gaming Industry
Ultiverse’s strategic funding round and its innovative integration of AI and crypto underscore its potential to revolutionize the gaming industry. With a growing user base and a commitment to redefining the gaming experience, Ultiverse stands as a pioneering force in the convergence of AI and crypto in gaming.
