Improbable Sells Gaming Venture for $97M
Improbable, a metaverse company that has helped on Yuga Labs' Otherside, sold its gaming venture, The Multiplayer Group, to Keywords Studios for $97.1 million according to a report from CNBC.
The Deets
- Improbable's Shift: Selling The Multiplayer Group to expand metaverse focus
- Transaction Details: The deal with Keywords Studios valued at £76.5 million.
- Aims to run more than 300 metaverse events in 2024.
The Bulk
Improbable, known for its efforts in the metaverse, made a significant move by selling The Multiplayer Group (MPG) to Keywords Studios. This deal, valued at more than $97 million, marks the company's committment to the metaverse. MPG, known for its work on popular games like Fallout 76, was originally acquired by Improbable in 2019.
The sale signifies Improbable's ongoing strategy to invest and spin off gaming and metaverse-related ventures, as explained by Improbable's CEO Herman Narula. This move aligns with the company's venture builder strategy, focusing on identifying and nurturing promising ventures in the gaming and metaverse domains.
🎤 Founder Feedback
Our strategy is about understanding and investing in multiplayer and metaverse opportunities. This sale allows us to focus more on these core areas.Herman Narula, CEO of Improbable to CNBC
🔜 What's Next?
Looking ahead, Improbable is focusing on expanding its metaverse projects, such as hosting virtual MLB games and partnering with Yuga Labs for the Otherside metaverse.
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