Metaverse Startup Improbable Sells Gaming Subsidiary to Keywords Studios
Improbable, a metaverse startup, has sold its gaming subsidiary, MPG, to Irish video game company Keywords Studios for $96.8 million. This sale marks the initial exit for Improbable’s venture arm and is part of its strategy to divest non-core operations. The company plans to focus on expanding its metaverse endeavors and transitioning from web2-oriented projects to web3 community initiatives.
Improbable’s Metaverse Predictions for 2024
In its annual statement, Improbable included several predictions for the metaverse in 2024. The company anticipates ongoing advancements in both web2 and web3 spheres, emphasizing the convergence between them and predicting consolidation. Access to capital will become more discerning, VR headsets will drive spatial computing growth, and gaming companies will incorporate more web3 games into their portfolios.
The Metaverse Society and M2 Network
In May, Improbable launched The Metaverse Society, a think tank focused on exploring the societal and economic impact of the metaverse. The company also introduced its M2 Network and MML Stack, a distributed computing platform designed to facilitate interconnected metaverses.
Hot Take: The Growing Potential of the Metaverse
The metaverse is poised for significant growth in 2024. The convergence of gaming, VR/XR, and web3 technologies, along with the success of VR headsets like Apple’s Vision Pro and Meta Quest 3, will fuel demand for immersive metaverse experiences. Gaming companies will continue to integrate metaversal elements into their offerings, creating new opportunities for brand activation.
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