- Per CNBC, Entain makes a $133 Million investment in Web3 technologies.
- Nygaard-Andersen, Entain CEO states the firm intends to lead in their industry, in the Metaverse.
- Other companies that recently invested in the Metaverse include Walmart and Warner Music Group.
Entain, formerly known as GVC Holdings, joined a host of other large companies in taking a stake in the Metaverse. Other companies that have already started investing in the Metaverse include Meta (formally known as Facebook), Microsoft, Nvidia, Niantic, Unity Software, Epic Games, and even Apple.
Jette Nygaard- Andersen, the Chief Executive of Officer of Entain said in an interview with CNBC that the company’s hub for innovation would be called Ennovate. Nygaard-Andersen added that Entain is interested in being at the forefront of the industry by offering “new, exciting products and experiences for their customers”.
According to Nygaard-Andersen, Entain’s innovative solutions will aid the company in establishing “cutting-edge” gaming, entertainment, and sporting solutions for their customers. The firm added that their innovation hub, Ennovate, would conduct testing of their latest commercial offerings in two arcades. These arcades would be virtual reality gaming centers in retail zones.
The United Kingdom is set to benefit significantly from Entain’s intended investment as the company is headquartered in England. Entain’s investment in the British Market is reported to be in excess of US$ 50 Million.
The list of large enterprises that have decided to put their money into Web 3 technologies continues to grow. Walmart, the American multinational retail corporation submitted their documents to local regulators to officially join the Metaverse. Walmart intends on letting its customers purchase various goods such as electronics, and other products through the Metaverse.
Warner Music Group, one of the top three music recording companies in the world recently entered a partnership with The Sandbox, a leading platform in the Metaverse. Oana Ruxandra, the Chief Digital Officer of WMG stated that WMG purchased virtual “estate” which they will utilize for hosting their artists on the Metaverse. WMG also aims to create innovative music experiences that overcome current limitations imposed by the real world.
