Artistone

Improbable Raises $150 Million to Connect Metaverse Worlds

UTC by Babafemi Adebajo · 2 min read
Improbable Raises $150 Million to Connect Metaverse Worlds
Photo: Improbable

The new unit M² will focus on web3 tech. Under its auspices, Improbable will build link bridges between different metaverse worlds.

London-based gaming startup Improbable has unveiled a new unit Msquared (M²), for which it raised $150 million in a new funding round. Andreessen Horowitz and Softbank led the funding round even as Msquared (M²) became the latest crypto unicorn. Companies like CMT, Digital Currency Group (DGC), Ethereal Ventures, Mirana, and SIG, CMT also participated in the round.

Reports suggest that all investors will receive utility tokens for the platform. However, Improbable CEO and co-founder Herman Narula noted the aim is progressive decentralization. Narula is looking to create a decentralized platform governed entirely by its community.

Improbable to Link Metaverse Worlds

The new unit M² will focus on web3 tech. Under its auspices, Improbable will build link bridges between different metaverse worlds. These interoperable chains will allow the transfer of all types of NFT assets between the worlds.

Likewise, it will create detailed online worlds that allow thousands of participants at a time. This will be done using the Morpheus gaming technology belonging to Improbable. In itself, this is a significant feat. Existing multi-player game platforms like Fortnite seem to struggle to accommodate 100 players once.

M² will allow much more. The trailer released to this effect shows the technology in use with over 1,000 players in a shared gaming world.

Cybersecurity Won’t Be a Problem

There have been cybersecurity issues associated with side chains and link bridges recently. Recall that at the tail end of March, hackers exploited Axle Infinity sidechain Ronin to steal assets worth $622 million. Afterward, the reentrancy vulnerability between some chains was also exploited.

On this, Narula noted that existing blockchain bridges were ‘fairly crude solutions’. He then hinted at plans to release a whitepaper detailing their cybersecurity plans.

Bloomberg estimates suggest the metaverse industry could be worth $800 million by 2024. Facebook may have started the metaverse charge with its rebranding to Meta, but many more have taken the challenge. It is no surprise that many companies are looking to gain the first-mover advantage. Like M², US gaming company, Epic, is also looking to make its Unreal Engine a platform where other companies can build their metaverse worlds.

Business News, Cryptocurrency news, Investors News, News
Babafemi Adebajo

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.

Related Articles