Valued at $9B, Pokemon Go creator to construct metaverse with recent funding
Niantic, the developer of the favored augmented actuality (AR) cell sport Pokemon Go, is planning to construct a “real-world” metaverse with newly raised funding.
The firm formally announced Monday the completion of a $300-million increase from the technology-focused funding supervisor Coatue, bringing the corporate’s valuation to $9 billion.
Coatue is called a significant investor within the cryptocurrency and blockchain trade, backing firms akin to blockchain intelligence agency Chainalysis, cryptocurrency startup Fireblocks, blockchain safety agency CertiK and others. The agency has additionally just lately participated in a $555-million funding spherical for cryptocurrency fintech startup MoonPay.
“Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition in computing,” Coatue common associate Matt Mazzeo mentioned. “We are excited to partner with Niantic because we see this infrastructure supporting a metaverse for the real world and helping to power the next evolution of the internet,” he added.
Niantic didn’t explicitly say that its metaverse would implement any points of blockchain expertise, nonfungible tokens (NFT) or cryptocurrencies.
“We’re building a future where the real world is overlaid with digital creations, entertainment and information, making it more magical, fun and informative,” Niantic founder and CEO John Hanke mentioned.
Unlike Facebook, which rebranded to Meta in October to sign its dedication to digital actuality improvement, Niantic reportedly wants to develop expertise that brings folks nearer to the surface world. “At Niantic, we believe humans are the happiest when their virtual world leads them to a physical one. Unlike a sci-fi metaverse, a real-world metaverse will use technology to improve our experience of the world as we’ve known it for thousands of years,” Hanke mentioned.
Coatue declined to touch upon the funding to Cointelegraph. Niantic didn’t instantly reply to request for remark.
Related: Why are main world 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 yr. Some gamers within the blockchain trade received impressed by Pokemon Go, with the agency IoTeX introducing its “Pebble Go” challenge, aiming to include real-world information to NFTs utilizing verifiable GPS info.