Entain, an international sports betting and gambling company, plans to invest $133 Million to create a global innovation laboratory focused on entertainment experiences in Metaverse. The company plans to invest $133 million in start-ups as well as develop applications for non-fungible tokens.
Entain Diving in The Metaverse
CNBC’s Jette Nygaard Andersen, Entain’s Chief executive officer, stated that the company’s innovation hub would be called Ennovate in a recent interview. Companies like Verizon USA, BT and Theta Labs, a British telecom company, are partners in the initiative. Ennovate will be launched in March of this year.
The CEO stated that her company is ready to be a leader in the industry by offering “new, exciting products” and an “exciting experience for customers.” Ennovate will be testing the latest products in two retail areas or virtual reality arcades as part of this effort.
Entain (formerly GVC Holdings) is one of the most prominent companies in its industry. It is listed on London Stock Exchange and is part the FTSE 100 Index. It is the owner of brands such as PartyPoker, Sportingbet and bwin.
Entain, a London-based company with a lot of influence and a strong presence in the United Kingdom will distribute more that $50 million of its total investment to the British market.
Is There Anyone Else Who Finds The Metaverse Interesting?
Many individuals and businesses have discovered that the digital environment that utilizes virtual reality, blockchain and concepts from social media is a very attractive niche.
Walmart, a giant retailer chain, filed paperwork with local regulators earlier this month to enter the market. It will allow its customers to shop for electronics, home decor, and other items through the Metaverse.
A few weeks later, Shiba Inu’s creators revealed that they were moving towards a Metaverse project called Shiberse. It is expected that the project will be an “immersive experience for ecosystem members.”
The Sandbox, a leading Metaverse platform, partnered with Warner Music Group.
Oana Ruxandra, WMG’s Chief digital Officer, stated that her company acquired “ESTATE,” which will be a portal for artists to enter the Metaverse. The company will also “develop persistent, immersive, social music experiences that defy all real-world limitations” to enable artists and fans alike to interact like never before.
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