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Niantic has obtained a $300 million funding at a valuation of $9 billion to understand its imaginative and prescient for the “real-world metaverse.”
The Pokemon Go and Pikmin Bloom developer stated it should use the money to spend money on its present titles, broaden the Lightship developer platform, and proceed constructing a future the place “the actual world is overlaid with digital creations, leisure, and knowledge.”
“This may take a big funding of expertise, expertise and creativeness, and we’re thrilled that Coatue is on this journey with us,” stated Niantic CEO and founder, John Hanke.
Niantic’s bid to construct a real-world metaverse hasn’t been with out problem. Earlier this 12 months, the corporate promised extra transparency and communication after gamers expressed concern over the elimination of pandemic-accommodating modifications in Pokemon Go.
The corporate additionally shuttered AR titles together with Harry Potter: Wizards Unite and Catan: World Explorers, explaining the previous had run its course whereas the latter introduced too many design hurdles.
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