Niantic, the developer of the favored augmented actuality (AR) cell recreation Pokemon Go, is planning to construct a “real-world” metaverse with newly raised funding.
The corporate formally announced Monday the completion of a $300-million elevate from the technology-focused funding supervisor Coatue, bringing the corporate’s valuation to $9 billion.
Coatue is named a significant investor within the cryptocurrency and blockchain business, backing firms such asblockchain intelligence agency Chainalysis, cryptocurrency startup Fireblocks, blockchain safety agency CertiK and others. The agency has additionally not too long ago participated in a $555-million funding spherical for cryptocurrency fintech startup MoonPay.
“Niantic is constructing a platform for AR primarily based on a 3D map of the world that we imagine will play a crucial function within the subsequent transition in computing,” Coatue normal accomplice Matt Mazzeo mentioned. “We’re excited to accomplice with Niantic as a result of we see this infrastructure supporting a metaverse for the true world and serving to to energy the following evolution of the web,” he added.
Niantic didn’t explicitly say that its metaverse would implement any points of blockchain expertise, nonfungible tokens (NFT) or cryptocurrencies.
“We’re constructing a future the place the true world is overlaid with digital creations, leisure and knowledge, making it extra magical, enjoyable and informative,” Niantic founder and CEO John Hanke mentioned.
In contrast to Fb, which rebranded to Meta in October to sign its dedication to digital actuality growth, Niantic reportedly wants to develop expertise that brings folks nearer to the surface world. “At Niantic, we imagine people are the happiest when their digital world leads them to a bodily one. In contrast to a sci-fi metaverse, a real-world metaverse will use expertise to enhance our expertise of the world as we’ve identified it for hundreds of years,” Hanke mentioned.
Coatue declined to touch upon the funding to Cointelegraph. Niantic didn’t instantly reply to request for remark.
Why are main international manufacturers experimenting with NFTs within the Metaverse?
Launched in 2016, Niantic’s Pokemon Go is among the most profitable cell video games of all time, reportedly crossing the $5-billion income mark earlier this 12 months. Some gamers within the blockchain business acquired impressed by Pokemon Go, with the agency IoTeX introducing its “Pebble Go” mission, aiming to include real-world knowledge to NFTs utilizing verifiable GPS data.
