Improbable sells gaming venture for $97m as analysts skeptical on commercialization
SoftBank-backed metaverse firm Improbable has sold one of its major gaming venture s to an Irish video game developer. According to a CNBC report, Improbable sold its multiplayer games developer The Multiplayer Group (MPG) for $97.1 million to Keywords Studios, an Irish video game industry services company. While this transaction aligns with Improbable’s broader venture builder strategy, analysts have raised concerns about the company’s ability to effectively commercialize its technology, citing perceived technical limitations and high associated costs. In a commentary to CNBC, Greg Martin, co-founder and managing director of Rainmaker Securities, a private market trading firm, noted that Improbable’s business model remains uncertain, saying “the jury is still out if they have a viable business model going forward.” You might also like: Metaverse firm, Improbable, changes tact after slashing losses by 85% However, Improbable’s CEO, He...