British Web3 metaverse developer Improbable has sold its gaming venture, The Multiplayer Group, to venture capital firm TPG. The sale, which was reportedly worth $97 million, is part of Improbable’s strategy to focus on the development of the metaverse and its technology platform. Improbable believes that the metaverse will be a key technology of the future and is predicting that by 2024, there will be 300 million monthly active users in the metaverse.
The Multiplayer Group, which was originally founded in 2012, specializes in creating multiplayer games. It has released successful titles such as “Last Day on Earth” and “State of Survival”. Improbable’s decision to sell the gaming venture reflects its shift in focus towards building the infrastructure and technology that will power the metaverse.
The metaverse, which can be described as a virtual universe where users can interact with each other and digital objects, has gained significant attention and investment in recent years. Companies such as Facebook and Epic Games have announced their intentions to build their own versions of the metaverse, while venture capital firms have poured billions of dollars into metaverse-related startups.
Improbable’s sale of The Multiplayer Group indicates its confidence in the future of the metaverse and its desire to position itself as a leading player in the space. With its technology platform and expertise, Improbable aims to provide the infrastructure that will enable the metaverse to become a reality. As interest in the metaverse continues to grow, Improbable’s focus on this emerging sector could prove to be a shrewd move.
In summary, Improbable has sold its gaming venture, The Multiplayer Group, as part of its strategic shift towards developing the metaverse. The company believes that the metaverse will be a major technology of the future and is predicting significant growth in the number of users in the coming years. By selling The Multiplayer Group, Improbable is positioning itself as a key player in the metaverse space and aims to provide the infrastructure and technology that will power this virtual universe. As interest in the metaverse continues to rise, Improbable’s focus on this emerging sector could pay off in the long run.
