Improbable Sells Web3 Gaming Venture to Keywords Studios for $97.1 Million
Metaverse technology company Improbable announced in a recent statement that it has sold its Web3 gaming venture, The Multiplayer Group (MPG), to Keywords Studios for £76.5 million ($97.1 million). This move is part of Improbable’s venture strategy for 2024. MPG was acquired by Improbable in 2019 for around £30 million.
Improbable’s 2024 Predictions
In addition to the sale, Improbable also released its predictions for 2024. The company believes that the metaverse and Web3 technologies are still on the rise and will experience significant growth in the coming years. They anticipate more consolidation and streamlining in the gaming, Web3, and crypto sectors, which will result in a stronger startup ecosystem.
Growth of Virtual Experiences and AI
Improbable has partnered with Major League Baseball to create a virtual baseball stadium, and they expect more physical-digital crossover experiences in the gaming world. They also predict the increasing use of generative artificial intelligence (AI) in content creation and business applications. Peter Lipka, the company’s COO, believes that AI-generated 3D interactive objects will become more prevalent in 2024.
Hot Take: Improbable’s Focus on Venture Strategy and Future Growth
Improbable’s sale of MPG to Keywords Studios demonstrates their commitment to their venture strategy for 2024. They believe that the metaverse and Web3 technologies are still thriving and have a promising future ahead. With predictions of industry consolidation, increased virtual experiences, and advancements in AI, Improbable aims to foster lasting value and contribute to a stronger startup ecosystem.
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