Pokémon GO is expanding into the Metaverse – that’s behind it

Niantic, the company behind Pokémon GO, has secured a generous injection of cash to expand into the Metaverse – what is the game developer planning to do?

On November 22nd, the San Francisco-based company closed Niantic announced it had received a $ 300 million injection of funds.

The $ 48 billion investment company is behind the investment Coatue management. In the past, Coatue Management was particularly noticeable in the crypto space because of its investments in blockchain companies. Well-known blockchain companies that Coatue has invested in include Chainalysis, Fireblocks and Certik.

In addition, Coatue recently signed up to a $ 555 million financing round for the fintech startup MoonPay involved. With the investment in Niantic, the investment giant is now investing directly in a Metaverse project for the first time.

The game developer wants to use the funds to invest in its current games and new apps. In addition, the Lightship developer platform is to be expanded and made ready for the Metaverse.

Compared to Facebook’s Metaverse plans, Niantic would like to focus primarily on entertainment in the so-called “Real World Metaverse”, says John Hanke, founder of Niantic – anyone who knows Pokémon Go and its AR functionality will see the common thread .

We are building a future where the real world merges with digital creation, entertainment and information.

Additionally, Hanke added that Niantic aims to develop technologies that bring people closer to the outside world.

At Niantic, we believe that people are happiest when their virtual world leads them to a real world. Unlike a sci-fi metaverse, a real world metaverse will use technology to improve our perception of the world.

In plain language, this means that Niantic does not want to create an exclusively virtual metaverse like Microsoft or Facebook. Rather, the company wants to add various digital components to the way we interact with the real world.

In 2016, Niantic was able to create the most successful Argumented Reality Game in the world to date with Pokémon GO. In the past few years alone, Niantic game players have covered more than 17.5 billion kilometers in the real world. The game developer is thus one of the most experienced and successful companies in the field of the “Real World Metaverse”.

However, it is not yet known whether Niantic’s Metaverse project will implement any aspects of blockchain technology, non-fungible tokens (NFTs) or cryptocurrencies.

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