The metaverse developer Improbable sold its gaming venture, The Multiplayer Group, as a part of its venture strategy for 2024.
Metaverse technology company Improbable announced in an end-of-the-year statement on Dec. 18 that it had sold its gaming venture, The Multiplayer Group (MPG), to Keywords Studios, a video game industry company, for £76.5 million ($97.1 million).
Herman Narula, the co-founder and CEO of Improbable, described Keywords as a great business partner with shared values and expressed his happiness about MPG’s new journey. Keywords collaborates with big players in the gaming world like Activision Blizzard, Bethesda, Zenimax, Epic Games, and 2K.
“Nurturing and fostering ventures across Sports, Web3 and fashion is at the heart of our philosophy and allows us to realize lasting value.”
Narula said this deal is a part of its venture strategy for 2024. Improbable originally acquired MPG in 2019 for around £30 million, while also concluding;
“The metaverse is poised for growth in 2024, fueled by the convergence of gaming, VR/XR, and Web3 technologies.”
He said the metaverse in 2024 will shape virtual events’ future and expects businesses to shift to decentralized metaverse platforms. Brands desire more control, leading to decentralized environments for experiences.
The Softbank-backed metaverse developer predicts 2024 will bring consolidation in gaming, Web3, and crypto sectors, forming a stronger startup ecosystem. In 2023, Improbable partnered with Major League Baseball, creating a virtual stadium for fans to join games in digital reality.
Improbable foresees more real-life connections in gaming and increased use of AI in content creation and business. Co-founder Peter Lipka believes AI has transformed business operations and predicts AI-generated 3D interactive objects in 2024.
Alongside others like GameFi executives Yat Siu and Johnson Yeh, Improbable anticipates a significant year for Web3 and gaming. They expect more users to enter Web3 through blockchain games.
