Venture Capitalists Shift Focus from AI to Crypto
As generative AI gains traction, the spotlight once fixed on cryptocurrency now shifts toward artificial intelligence. Some venture capital firms, swiftly pivoting between the two sectors, face criticism for perceived opportunism. Nonetheless, a cohort of entrepreneurs champion the fusion of AI and crypto, fueling speculation on its potential applications.
Ultiverse: Marrying AI with Crypto Gaming
Amid this landscape, Singapore-based startup Ultiverse emerges as a beacon, debunking notions of AI-crypto convergence as a passing trend. Presenting itself as an “AI-powered” platform for crypto game development and distribution, Ultiverse garners support from esteemed investors. A recent strategic funding round, spearheaded by IDG Capital, elevates Ultiverse’s valuation to $150 million.
AI Integration in Crypto Gaming
Ultiverse leverages AI to streamline production and enhance user adoption within its crypto gaming ecosystem. Co-founder Jimmy Liu elucidates the role of AI in accelerating content creation by employing existing large language models like GPT-4 and Llama. These models train in-game non-player characters, tailoring player experiences based on their interactions. Additionally, players can deploy their AI agents to navigate the virtual landscape.
Beyond Gaming: Addressing the Crypto Games Debate
While Ultiverse’s utilization of AI in game design underscores innovation, the broader discourse surrounding crypto games persists. Questions linger on whether these games genuinely add value to the industry or merely exploit players for profit. Despite this debate, Ultiverse boasts significant milestones, with three published games attracting a sizable user base. Notably, its mobile cricket game, catering to the cricket-crazed regions of India and Pakistan, boasts 200,000 unique active wallet addresses.
Converting Non-Crypto Users
Ultiverse’s integration of “account abstraction” simplifies the onboarding process for non-crypto users, facilitating seamless adoption into the crypto ecosystem. By removing technical barriers, Ultiverse successfully converts web2 gamers into active participants in its web3 gaming platform.
IDG Capital’s Endorsement
An IDG Capital spokesperson extols Ultiverse as a pioneering force in web3 gaming production and distribution, foreseeing transformative impacts on the industry. This investment underscores IDG Capital’s confidence in Ultiverse’s ability to redefine gaming experiences globally, aligning with its portfolio of notable crypto projects.
