Monday, December 4, 2023

Gaming tech startup Improbable to provide tech for interconnected metaverse worlds

Improbable, a gaming tech startup, hopes to ride high on the metaverse hype. It hopes to lead the charge with a new initiative and considerable funding. Improbable will focus on developing Web3 through its new entity M2 (MSquared). It will allow interoperability so users can carry over NFT assets and items between the worlds.

M2 raised $150 million at a $1 billion valuation. This funding has pushed it up into the long line of crypto unicorns in the space valued at $1 billion-plus. The funding round was led by Andreessen Horowitz (a16z) and Softbank. Other companies like Ethereal Ventures, Digital Currency Group, SIG, Mirana, and CMT also participated. M2 combines Improbable’s Morpheus gaming technology. It enables richly detailed online worlds with more than 10,000 live users with new Web3 tools and tech.

The new entity is designed to bring metaverse worlds to life. However, it works with existing worlds as well as new projects. Herman Narula, co-founder, and CEO of Improbable, said the current blockchain bridges to as a fairly crude solution. However, cross-chain bridges have in recent months been attacked. In late March, Axie Infinity’s Ronin sidechain to the Ethereum mainnet was hacked of $622 million worth of cryptocurrency. Earlier, the wormhole bridge between Ethereum and Solana was exploited for $320 million.

Narula revealed that Improbable intends to allow the community of users to govern the coming platform towards progressive decentralization.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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