The company has raised $150 million in fresh funding which it plans to use to develop M² (MSquared), a network of interoperable metaverses that are based on the Web3 movement (an idea for a new version of the World Wide Web based on blockchain). The realities it will develop are to be powered by Improbable’s Morpheus technology, which the company has built for enhanced social interaction and “a sense of presence inside virtual spaces.” In fact, the technology offers a way for more than 10,000 physical users to interact in the same place simultaneously, and it claims this is a “lag-free experience.” In its announcement for the new financial injection, Improbable criticised the current state of virtual experiences, which it claims are incapable of supporting “the vast numbers of people or rich interactivity necessary to fulfil the metaverse’s promise.” What’s more, it added, what we have nowadays can be described as “closed platforms unable to provide the level of sophisticated interoperability and shared governance expected by users and needed to build investable virtual economies.” Full story here
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