Verizon Partnered Entain Arm To Invest $133 Million Into the Metaverse
With every passing day, more and more mainstream organizations become a part of the crypto and the Metaverse space be it entertainment, financial, etc.
The latest in the mix is a global sports betting and gaming company that has dedicated a sizeable amount just for cementing itself in the Metaverse.
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Entain Enters the Metaverse
The Luxembourg-based company has multiple other subsidiaries under its belt which operate to the stretches of Britain and Austria. And after 16 years since its inception, the company is officially planning on venturing into the crypto world after the announcement of its latest arm, Ennovate.
Through Ennovate, Entain aims to fund startups and also develop applications with $133 million (100 million pounds) using which it will be entering the NFT, virtual reality (VR), and augmented reality (AR) spaces.
The CEO of Entain, Jette Nygaard-Andersen who is also the first woman to lead a gambling company listed in the UK said in a statement:
“We want to lead the way with new, exciting products and experiences for customers and use our cutting-edge technology to pioneer innovations in sport, gaming, and interactive entertainment for the metaverse.”
The company has big names as its partners as well. Verizon, BT – a British Telecom firm – and Theta Labs serve as partners with Entain on this venture Which is aimed to be launched in March this year.
The Explosion of Metaverse
Although last month witnessed a significant rise of Metaverse-based projects as well as the number of investors entering the space, January too observed a similar streak.
Most recently, TerraZero began offering mortgages to finance people who wish to own a property in the Metaverse.
Furthermore, Warner Music Group a few days ago announced their plans of entering the Metaverse with a Concert Theme Park in the Sandbox Metaverse.
This has consequentially led to such Metaverse-based tokens witnessing a major rise despite the prevailing market conditions. Decentraland’s token MANA has shot up by 28.8% in the last few weeks trading in green at $2.62.
Walking along with it is The Sandbox’s native coin, SAND which has managed to mark a rally of 31.15% in 8 days and is presently trading at $3.94
