Connect with us

Hi, what are you looking for?

Technology

Niantic raises $300M at $9B valuation as it guns for the real-world metaverse


Join gaming leaders, alongside GamesBeat and Facebook Gaming, for their 2nd Annual GamesBeat & Facebook Gaming Summit | GamesBeat: Into the Metaverse 2 this upcoming January 25-27, 2022. Learn more about the event.

Pokémon Go maker Niantic has raised $30o million from investor Coatue at a $9 billion valuation as it aims to build the real-world metaverse.

While Facebook/Meta is trying to build the metaverse on a foundation of virtual reality, Niantic has seen its success on location-based gaming with Pokémon Go. And that has made it partial to creating extensions of that game for its version of the metaverse. Techcrunch reported the news.

In other words, San Francisco-based Niantic believes the metaverse can be built with AR images overlaid on the real world. Hanke believes that the VR-based visions of the metaverse, like in Ready Player One, are more like a dystopian nightmare. In a speech at Augmented World Expo, Hanke criticized the dystopias.

“In those fictional versions of the future, the world has become such a mess that people have to escape it into some sort of virtual reality where people live, work, and play,” says Hanke. “I would ask all of you: is that the future you imagine? Is that what you want for you? For your children? That’s not the future we believe will happen at Niantic.”

Event

The 2nd Annual GamesBeat and Facebook Gaming Summit and GamesBeat: Into the Metaverse 2

Learn More

Above: John Hanke is CEO and founder of Niantic.

Advertisement. Scroll to continue reading.

Image Credit: Niantic

Niantic wants to develop technology that overlays a virtual world on top of the real world, just as it does layering cute animated Pokémon creatures in the real world.

Niantic recently unveiled its Lightship AR Developer Kit (ARDK), which makes it easy to make AR games publicly available for free to anyone to develop games for.

Niantic recently shut down its Harry Potter: Wizards Unite game, but it also recently launched Pikmin Bloom, designed to be played while walking around with a smartphone.

Sensor Tower reported that Pokémon Go earned more than $1 billion in revenue in 2020.

GamesBeat

GamesBeat’s creed when covering the game industry is “where passion meets business.” What does this mean? We want to tell you how the news matters to you — not just as a decision-maker at a game studio, but also as a fan of games. Whether you read our articles, listen to our podcasts, or watch our videos, GamesBeat will help you learn about the industry and enjoy engaging with it.

How will you do that? Membership includes access to:

  • Newsletters, such as DeanBeat
  • The wonderful, educational, and fun speakers at our events
  • Networking opportunities
  • Special members-only interviews, chats, and “open office” events with GamesBeat staff
  • Chatting with community members, GamesBeat staff, and other guests in our Discord
  • And maybe even a fun prize or two
  • Introductions to like-minded parties

Become a member



Source link

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Advertisement

Latest

Top Stories

The year 2021 is coming to a close, and if there’s one way to describe how the cryptocurrency industry fared in the past 12...

Technology

U.S. online store PulseTV has disclosed a large-scale customer credit card compromise. As per the notification letter shared with the Office of the Maine Attorney...

Top Stories

Beginning in February, Estonia is set to introduce sweeping changes to its definition of Virtual Asset Service Providers, or VASPs, to include several cryptocurrency-related...

Online Business Success

— Reuters/File Local currency appreciates by Re1. Rupee has depreciated by 12.04% since July 1, 2021. Suspected intervention by SBP helped the local unit...

Top Stories

Bitcoin (BTC) chipped away at its latest gains on Dec. 31 as the final trading session of 2021 opened on Wall St. BTC/USD 1-hour...

Top Stories

Regulators around the world have been thinking seriously about the risks associated with stablecoins since 2019 but recently, concerns have intensified, particularly in the...

Technology

Source: Karen S. Freeman / iMore This MagSafe-compatible case for the iPhone 13 series handsets offers up to 13-foot drop protection. The scratch-resistant, anti-yellowing...

Top Stories

Bitcoin (BTC) institutional demand is conspicuously wanting at the end of the year as data flags the “underperformance” of the United States’ first Bitcoin...

Advertisement

You May Also Like

SEO Guide

How to index website on Google? Do you want to drive more organic traffic to your new website? I am sure your answer is...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Blogging

In this post, I will discuss the top ten profitable blogging niches ideas for Adsense approval and high traffic. whether you use Blogger or...

SEO Guide

Want to rank in Google image search? Images that you use as a featured images when writing a post actually appear on Google Images...

Advertisement