ulti Do mindless long near 0.005F.
There is a blockchain gaming segment project that I am quite optimistic about, ULTi.
Ultiverse. Initially, the comments repeatedly mentioning it in the comment section made me somewhat annoyed, but curiosity ultimately drove me to delve deeper. Today, after doing thorough research, I want to share my understanding of it with everyone, exploring it through four key chapters.
1. Outlook: A Dawn of Transformation for Web3 Games?
Ultiverse steps into the market with a grand vision, leveraging a powerful AI engine to build a AAA-level Metaverse. Can this AI strategy become a key force driving a qualitative leap for Web3 gaming? It innovatively combines VR with NFTs, attempting to shape an unprecedented AI-driven gaming world. Built on Unreal Engine 5, Ultiverse aims to break our conventional understanding of the traditional Metaverse and become a pioneering MetaFi platform that integrates Web3 and VR.
Unlike many ordinary Metaverse games, Ultiverse has thoughtfully built Terminus City. Here, players can immerse themselves in a VR-compatible gaming experience driven by a world view and an evolving storyline, as if they are in a real functioning city platform with rich infrastructure including public buildings and DeFi. Players can also unlock generous rewards through immersive exploration journeys and actively engage in community building.
Taking Ultiverse's first NFT—the Electric Sheep NFT—as an example, it is hand-drawn with a cyberpunk aesthetic and supported by a rich backstory, mainly divided into three factions: gangs, corporations, and government. As the top form of the Ultiverse pass, it not only unlocks all Ultiverse products but also features staking, airdrops, and product (game) equity dividends, providing players with a unique value experience.
2. Team Strength: A Gathering of Industry Elites
Frank, the founder of Ultiverse, graduated from the prestigious Carnegie Mellon University (CMU) and is a seasoned professional passionate about the gaming industry. The entire Ultiverse team is large, comprising over 200 elite team members who previously held important positions in well-known gaming companies such as Gameloft, Blizzard, Ubisoft, and Tencent, deeply participating in the development and design of classic games like (EldenRing), (Assassin's Creed), and (Prince of Persia).
Moreover, Ultiverse aims to become the key link connecting players with games, actively collaborating with various project parties and communities within the gaming ecosystem. Recently, Ultiverse announced partnerships with over 300 AI and gaming teams from Web2 and Web3, covering almost all leading Web3 gaming projects. This initiative will undoubtedly inject strong momentum into its grand vision for the gaming platform and lay a solid foundation for achieving its goals.
3. Financing Lineup: Favor and Support from Capital
Throughout its development journey, Ultiverse has successfully completed three rounds of financing, demonstrating strong capital attraction.
On March 18, 2022, Ultiverse completed a $4.5 million seed round financing at a valuation of $50 million in its early stage. This round of financing was co-led by Binance Labs and Defiance Capital, with Three Arrows Capital and SkyVision Capital also actively participating, providing crucial funding support and industry endorsement for the project's launch.
Shortly after, on March 25, 2022, Binance Labs invested an additional $5 million in Ultiverse, this investment was in the form of equity acquisition. Nicole Zhang, the director of Binance Labs, explicitly stated that this move aims to ensure that Binance Labs has a certain say in the future development direction of the Ultiverse team, demonstrating its high recognition of the project's prospects.
On February 14, 2024, Ultiverse welcomed a new development opportunity, completing a $4 million strategic round financing at a valuation of $150 million. This round was led by IDG Capital, with renowned investment institutions such as Animoca Brands, Polygon Ventures, MorningStar Ventures, Taiko, ZetaChain, Manta Network, and DWF Ventures participating, further highlighting the market's optimism about the potential of the Ultiverse project and providing strong financial backing and rich resource support for its future development.
4. $Ulti Token Analysis: Investment Opportunities and Potential Risks
In terms of token gameplay, Ultiverse's $ULTI token previously had staking and airdrop activities, but most of these early gameplay options have now concluded, with the current main gameplay focusing on new listings.
From the basic data of the token, its total supply is set at 10 billion, with a current circulation of 500 million, corresponding to a circulating market value roughly between $140 million and $500 million, and the token price fluctuating around $0.07 to $1. By comparing it with the circulating market value of the entire blockchain gaming sector, if we benchmark against the lower circulating market value ACE token (circulating market value $140 million), assuming the launch price of Ulti is $0.28.
