Improbable raises $150 million to build an interoperable 'metaverse' network

Metaverse & NFT • April 7, 2022, 2:49PM EDT

Improbable, a British company focused on building tools for virtual experiences, has raised $150 million.

Improbable aims to let companies build their own Web3 businesses and virtual experiences on its platform. The goal is to let thousands of users participate in the company’s virtual experiences that are interoperable with current blockchains in areas such as entertainment, sports, music and fashion.

Andreessen Horowitz and SoftBank Vision Fund 2 led the funding round, with additional participation from Mirana, Digital Currency Group, CMT, SIG and Ethereal Ventures.

“Giving people the tools to design their own metaverses at the scale that Improbable enables, with web3 interoperability and composability to expand on each other’s creations, will result in some truly groundbreaking virtual experiences,” said Andreessen Horowitz general partner Chris Dixon in a statement.

In recent months, notable brands have sought to stake out virtual world initiatives, such as the recent Metaverse Fashion Week featuring brands like Tommy Hilfiger and Estee Lauder.

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MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.