Improbable sells gaming venture for $97M, shares 2024 metaverse predictions

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 for £76.5 million ($97.1 million).

Herman Narula, co-founder and CEO of Improbable, called Keywords “a like-minded business partner” and said he was delighted to see MPG embark on a new chapter. Keywords works with large names in the gaming industry, such as Activision Blizzard, Bethesda, Zenimax, Epic Games and 2K.

Narula said this deal is a part of its venture strategy for 2024. Improbable originally acquired MPG in 2019 for around £30 million.

Cointelegraph has contacted Improbable for more information on the sale but hasn’t yet received a response. 

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Improbable also released its 2024 predictions, stating the metaverse and Web3 are not “yesterday’s news.”

Narula said:

According to the Softbank-backed metaverse developer, 2024 will also see more consolidation and streamlining in the gaming, Web3 and crypto sectors, which it says will result in a “stronger, more resilient, and more cohesive startup ecosystem.”

In 2023, Improbable partnered with Major League Baseball to create a virtual baseball stadium for fans to join in on games in digital reality.

Improbable forecasts more physical-digital crossover experiences in the gaming world and the growing use cases of generative artificial intelligence (AI) in content creation and business applications.

Peter Lipka, the company’s co-founder and chief operating officer, added that AI has revolutionized how businesses operate and predicts AI-generated 3D interactive objects will surface in 2024.

Improbable isn’t alone in anticipating a big year for Web3 and gaming. In a recent interview, two GameFi executives, Yat Siu and Johnson Yeh, told Cointelegraph they believe more users will step into Web3 next year via blockchain games.

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