Cryptocurrencies
Gaming Startup Improbable Creates Blockchain Project. VCs Say It’s Worth $1 Billion
The M² system is designed to be an underpinning of metaverses.
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One of the most lavishly funded European video game startups of recent years, Improbable Worlds Ltd., said it can bridge the two technologies that venture capitalists are most excited about right now: blockchain and the metaverse. As a result, its backers committed about $150 million to Improbable’s new project, M².
Pronounced “M Squared,” the blockchain-enabled system promises to allow different virtual worlds to connect with one another. The new investment—led by a pair of longtime Improbable backers, Andreessen Horowitz and SoftBank Group Corp.—values M² at $1 billion, Improbable said.