Improbable, a British unicorn company, has launched a new think tank aimed at exploring the potential of the metaverse, an alternate reality powered by AI, metaverse and blockchain technology. Dubbed the Metaverse Society, Improbable’s vision is to create a space where communities, content developers, and brands can interact, create and share without the need of gatekeepers.
The company’s recent research memo points to the value of blockchain in making the metaverse both decentralized and monetizable. The same memo also emphasises the need to address misconceptions surrounding the metaverse. To further these efforts, the company plans to present a program of activities at the end of June.
The launch of the Metaverse Society and its activities represent a pivot for Improbable. The company has traditionally developed virtual worlds for over a decade but has recently refocused its energy on providing metaverse infrastructure instead. This strategic move has seen it abandon traditional forms of gaming and its US defense arm. Improbable is now aiming to make the metaverse profitable in 2023.
Part of Improbable’s plans is to raise €100 million in a new funding round. These reports have been backed up by Elrond, a blockchain company, which will be leading the funding round. Additionally, in an effort to push further between their interoperable metaverses, Improbable is partnering with Bored Ape NFTs.
The person at the centre of these endeavours is Herman Narula, the founder and CEO of Improbable. His aim is to ensure that the metaverse holds its promise of being a network of meaning that unlocks creativity, social interaction and economic opportunities.
Through these ambitious efforts, Narula and his team are hoping to become pioneers in the development of the metaverse. With Improbable set to be profitable in the next two years, their contributions may soon prove invaluable to both the use and development of metaverse technology.
