British unicornImprobablehas sharpened its metaverse focus with the launch of a new think tank.
Dubbed theMetaverse Society, the think tank will explore the social and economic impacts of the nascent tech.
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Improbable plans to present a detailed program ofMetaverse Societyactivities at the end of June.
To kick things off, the company is bringing its own research portfolio to the think tank.
Without blockchain-based solutions, the metaverse is not possible.
The new memo emphasises the value of blockchain in making the metaverse decentralized, interoperable, and monetisable.
The metaverse will rely heavily on blockchain technology, particularly in terms of economic activity…
Without blockchain-based solutions, the metaverse is not possible, write the authors.
On the blockchain
The think tank and memo were unveiled amid a big strategic pivot for Improbable.
As part of the shift, the Softbank-backed firm has abandoned plans to build its own video games.
In December, the company also shuttered its US defence arm, which provided war-gaming simulations for military forces.
Instead of in-house games and defence, Improbable is now concentrating on metaverse infrastructure.
A key component of this effort involves blockchain tech.
The round was led by Elrond, a blockchain company.
The pivot to a blockchain-powered metaverse aims to end Improbables operating losses.
Narula says he expects the company to be profitable in 2023.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
