UK-based Improbable aims for the metaverse; will it have enough cash to reach the target?
As the investment towards technologies for the metaverse increased over the last couple of years, technology providers have been able to work on developing the metaverse ecosystem and test new functionality. Seeing these trends, British software company Improbable, which has been in the news for a while with its Morpheus gaming technology, is now aiming more towards the metaverse as well.
Improbably has been pushing its limits to innovate a new gaming ecosystem through Morpheus technology, which allows large multiplayer online games with up to 10,000 players all interacting in the same space. Now the company sees its technology being applicable to the development of metaverse systems.
“A good example of what Morpheus solves is the infamous ‘Metaverse Sniper Problem’ When you zoom in through the scope of a sniper rifle, you need to be able to see an area of the world far away in high-fidelity to be able to get an accurate shot,” explained Rob Whitehead, chief product officer of Improbable, in describing how the baseline Morpheus technology solves the problem. “Therefore, to power metaverse experiences with 10,000s of players, you need a fundamental step change of technology,” he said in a recent blog post.
Herman Narula, CEO of Improbable, revealed in the post that the firm has received an increasing number of inquiries from partner companies for more functionality and metaverse space compared to gaming. Some of the future innovations from Improbable could be in the domain of event hosting and social spaces being part of the interactive virtual world. All these developments have come to “fruition” in 2021, according to Narula, and “while at the same time strengthening our financial profile” to build a “powerful network of connected worlds,” he added.
Herman Narula, CEO of Improbable, said that after two years of hard work, the Softbank-backed company sees itself to be at a breakeven stage or even potentially achieving some profit. This comes after significant loss figures faced by company, having reported a loss of $88.5M for 2019 and $85.9M in 2020.
The company claims the addressable market for its services and technology could reach over $100bn across games and metaverse applications by 2025. Still, the software firm has engaged with Galaxy Digital as a financial advisor in exploring strategic plans for 2022.
Digital Transformation Week Global 2022
Article Topics
Facebook | Improbable | investment | metaverse | multiplayer gaming | SoftBank | venture capital
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