Andreessen Horowitz, SoftBank Lead $150M Raise for Metaverse Startup Improbable

Andreessen Horowitz, SoftBank Lead $150M Raise for Metaverse Startup Improbable
0

Andreessen Horowitz, SoftBank Lead $150M Raise for Metaverse Startup Improbable

Metaverse technology firm Improbable has raised $150 million to build a “network of interoperable Web 3 metaverses,” dubbed M², according to a Thursday press release.

  • The round was led by Andreessen Horowitz, along with SoftBank’s Vision Fund 2. Digital Currency Group – CoinDesk’s parent company – CMT Digital, the crypto division of trading firm CMT Group, Mirana Ventures, SIG and Ethereal Ventures also participated in the round.
  • Improbable describes itself as a provider of technology and services to support multiplayer virtual worlds to more than 60 küresel game publishers. Its large scale simulation platform is also used by the U.K.’s defense mission.
  • “Giving people the tools to design their own metaverses at the scale that Improbable enables, with Web 3 interoperability and composability to expand on each other’s creations, will result in some truly groundbreaking virtual experiences,” said Chris Dixon, general partner at Andreessen Horowitz.
  • Despite the projected revenue growth of metaverse industries, the products available to customers today cannot support enough people or “rich interactivity” to “fulfil the metaverse’s promise,” said Improbable. Others are closed platforms that don’t match users’ expectations of “sophisticated interoperability and shared governance,” the company continued.
  • M² will use Improbable’s Morpheus Technology, which can support over 10,000 players, and enables their interaction in dense virtual spaces, according to the press release. The network will also allow trade in digital assets and Web 3-style governance. “M² introduces a way for game devs to create virtual assets and add them to the network,” and will enable interoperability in between metaverses, Marine Boulot, vice president of PR and Communications at Improbable, told CoinDesk.
  • Improbable, which has raised more than $600 million in previous funding rounds, announced in January plans to accelerate its push into the metaverse and refocus its content strategy.

Read more: Shiba Inu’s Metaverse Will Feature More Than 100K Land Plots

Click to rate this post!
[Total: 0 Average: 0]

Join Our Newsletter

Sign up for free now and be the first to know about new updates.

Write a Comment