Quick take:
- Lovo has completed a $2 million extension of its pre-Series A round bringing the total funding raised in the round to $6.5 million.
- The synthetic speech startup is building a Web3 voice technology that will power conversations in the metaverse.
- The funding round was led by the global crypto capital firm Hashed which has invested heavily in blockchain and GameFi projects.
LOVO is looking to accelerate the development plans for its AI voice technology after completing a $6.5 million pre-Series A round led by Hashed. LOVO has been developing an AI voice technology that will power conversion in the metaverse. The latest fundraising comes at the back of the 8,888 Voiceverse NFT collection sale in January.
The lead venture capital investor, Hashed has participated in several fundraising focused on the metaverse and GameFi. Some of its notable participation include investing in Axie Infinity, The Sandbox and Decentraland.
The participation of PKO investments brings on board notable Web3 and blockchain investors like Animoca Brands’ Yat Siu, Patrick Lee (Founder of Rotten Tomatoes), Holly Liu (Founder of Kabam), Ray Chan (Founder of 9GAG), and Matt Finick (Former CFO of ROBLOX & Marvel Studios), among others. California-based Goodwater Capital also participated in the pre-Series A round.
LOVO said it will use the funds to try to find new ways of bridging its AI voice technology with Web3 applications as it looks to be the bedrock of communication in the immersive 3D world.
By blending NFT technology with its AI speech system, LOVO will be able to grant Voiceverse NFT holders “access to a unique AI voice model, which can be used to produce any kind of speech content or even used in real-time on voice chat platforms like Discord.”
The model also allows voice actors to earn significant royalties by putting their talents in the blockchain.
The company is particularly looking at applications that could combine the unique NFTs with existing profile picture NFTs and exclusive avatars such as BAYC. in the long run, the company is looking to partner with gaming and metaverse worlds to power their conversations.
“We’ve long had the freedom to change our appearances however we want online, but not with how we sound,” said Tom Lee, Co-Founder of LOVO. “With Voiceverse, people can now add another layer of personalization and pseudonymity, completing their persona for the metaverse.”
“The vision and technical expertise behind Voiceverse is truly astounding,” said Simon Kim, CEO at Hashed. “We strongly believe that voice is one of the missing links in a truly digital and inclusive Metaverse, enabling new ways for people to interact with each other in virtual worlds.”
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