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

The metaverse technology company Improbable has announced in an end-of-the-year statement on Dec. 18 that it had sold its Web3 gaming venture, The Multiplayer Group, to Keywords Studios for £76.5 million ($97.1 million).

Herman Narula, the 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, and 2K.

“Nurturing and fostering ventures across Sports, Web3 and fashion is at the heart of our philosophy and allows us to realize lasting value.”

Narula said this deal is a part of its venture strategy for the forthcoming year. 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 predictions for the coming year, stating the metaverse and Web3 are not “yesterday’s news.”

Narula said:

“The metaverse is poised for growth in 2024, fueled by the convergence of gaming, VR/XR, and Web3 technologies.”

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 (MLB) 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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