While the world of crypto was busy networking at Bitcoin 2022 in Miami last week - including us at Nexo! - the Nexo Ventures team was deep in deal mode. On Wednesday, Improbable, the UK-based Metaverse technology company, announced the closing of a $150M funding round with the strategic involvement of Nexo Ventures.
Nexo joined other major investors in the funding round, including lead investors SoftBank Investment Advisors and a16z and others including Digital Currency Group and CMT Digital.
The capital raise will give Improbable the capital it needs to build M2, an ecosystem and network of interoperable Web3 Metaverses powered by Improbable’s Morpheus technology.
Many of the Metaverse experiences available today can’t support the vast numbers of people or rich interactivity necessary to fulfill the true promise of the Metaverse. Improbable’s technology changes that.
Improbable’s M2 network and Morpheus technology will support Metaverse interoperability, commerce in digital assets, and governance in Web3.
This is a strategic investment for Nexo, meaning that we intend to integrate our portfolio of crypto and digital asset products with Improbable’s Web3 technology in the Metaverse. We believe that the Metaverse will become an extension of our physical lives and function as a platform for vibrant social and economic activity, including financial services.
We aim to continue disrupting the traditional customer-facing business model and aspire to position Nexo as the prime digital bank of the future with a footprint across interoperable Metaverses.
Want to see what the Improbable team is capable of? Check this out.
To learn more about Nexo Ventures and to apply for funding, visit www.nexo.io/ventures.