Improbable Sells Gaming Venture for $97 Million as it Sets Eyes on 2024 Metaverse Trends | Blockster

In a notable development, Improbable, a metaverse technology company backed by SoftBank, has successfully sold The Multiplayer Group (MPG), a significant gaming venture acquired in 2019, to London-listed video game developer Keywords Studios for £76.5 million ($97.1 million).

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Herman Narula, CEO of Improbable, shared insights into the company's strategic approach, citing the transaction as part of their "venture builder" strategy. This approach involves investing in or acquiring teams with the flexibility to expand them or spin them out as needed, demonstrating Improbable's commitment to adaptability in the dynamic gaming and metaverse landscape.

The decision to sell MPG follows a series of challenges faced by Improbable, indicating a strategic realignment of its gaming-related investments. However, Narula clarified that this move does not signal a retreat from the gaming space but represents a shift in focus.
Improbable envisions a transformative year in 2024, foreseeing a "tale of two metaverses," predicting a move away from centralized experiences like Roblox and Fortnite in favor of decentralized, "Web3" versions.
This outlook aligns with the broader industry trend towards decentralized and open-web concepts, driven by technologies such as blockchain.

Despite the sale, Improbable remains dedicated to innovation, emphasizing its artificial intelligence-enabled technologies, particularly the Morpheus platform designed for mass-scale multiplayer online games. Improbable has hosted engaging experiences using Morpheus, including virtual Major League Baseball games and the "Otherside" metaverse developed in collaboration with blockchain firm Yuga Labs.

Improbable's foray into the metaverse extends beyond gaming, as evident in the launch of MSquared, a metaverse creation suite introduced in June. Narula expressed optimism about signing more partners for MSquared, highlighting Improbable's commitment to large-scale metaverse events, with plans to increase gatherings from 30 in 2023 to an ambitious 300 in 2024.

While analysts remain cautious about Improbable's ability to commercialize its technology, the company's strategic moves indicate a continued focus on the metaverse's potential. As the industry navigates challenges and evolving trends, Improbable positions itself to play a key role in shaping the future of decentralized metaverses.