Metaverse Project Futureverse’s Co-Founders Start $50M Venture Fund

Two weeks after announcing a new funding round, metaverse startup Futureverse co-founders Shara Senderoff and Aaron McDonald have started a $50 million venture fund and studio titled Born Ready. The fund will focus on early stage Web3 and metaverse technology investments, according to a press release.

Futureverse was formed in late 2022 through the merger of eight companies, and three more have since been absorbed into the operation. The startup’s most notable projects are FLUF World, a non-fungible token (NFT) collection featuring cartoon rabbits, and the mobile soccer game AI League. Futureverse recently announced raising $54 million in a Series A round led by 10T Holdings with participation from Ripple Labs.

The Born Ready fund will cut checks between $250,000 and $1 million per project, the team told Fortune in an interview. It has already deployed capital into a variety of companies, including high-tech sneaker startup FCTRY Lab, Web3 startup Power’d Digital, and blockchain gaming companies Polemos and Walker Labs. Born Ready will announce an accelerator program with funding opportunities at a later date.