Sports betting and gambling company Entain will infuse $133 million to launch a global innovation lab to develop immersive gaming and sports experiences in the metaverse, reports CNBC News.
The fund will help start-ups develop nonfungible tokens, virtual reality, and augmented reality applications.
For the Metaverse
The company announced the news on Monday. CNBC quoted CEO Jette Nygaard-Andersen saying in a statement, “We want to lead the way with exciting new products and experiences for customers and use our cutting-edge technology to innovate sports, games, and interactive entertainment for the metaverse.”
As part of this endeavor, shoppers will experiment with new products in two retail experience zones or VR arcades.
Entain listed on the London Stock Exchange owns Bwin, Coral, Ladbrokes, PartyPoker, and Sportingbet.
Trending Stories
About Entain:
Entain plc, formerly GVC Holdings, is an international sports betting and gambling company. It is listed on the London Stock Exchange and constituent of the FTSE 100 Index.
In 2021, Entain’s joint venture partner MGM Resorts offered to buy Entain, valuing the business at $11 billion. However, the board rejected the offer saying, that it “significantly undervalues the company and its prospects”.
- Terra USTC Price Skyrockets By 75%; Will It Recover More?
- Breaking: No VAT On Cryptocurrency Issuers In Russia, Details
- Just In: Robinhood Lists Chainlink (LINK); Price Up By 5%
- Just In: USDC Parent Inks Major Pact With New York Bank
- Here’s Why Dogecoin (DOGE), Shiba Inu (SHIB) Prices Tumbled
- This Is Why Ethereum (ETH) Recovered Sharply From Below $1K
- Top Binance Exec To Keep Buying Bitcoin, But There’s A Catch
- Expert Sees Fed Reversing Interest Rate Hikes, How Will It Affect Crypto?
- New Bullish Cycle Likely After Bitcoin Reaches This Level, Stats Show
- Cardano (ADA) Sees Big Drop In Interest, But Is Likely Primed For A Rally
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
- Stacks Price Analysis: Reversal Within Wedge Pattern Eyes $0.3 Support
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?
- Dogecoin Price Analysis: DOGE Winning Streak Aims to Reclaim $0.077
- Apecoin Price Analysis: Reversal Pattern Sets 21% Rise in APE Price
- Ethereum Price Analysis: Will ETH Relief Rally Revert From $1300?
- Bitcoin Price Analysis- Higher Price Rejection Hints BTC to Retest $20000
