According to a recent report from the Wall Street Journal, internet darling GameStop is moving into the virtual space with heavy investment in NFTs and Web3. The company has gathered a 20+ person team dedicated to building an online marketplace for NFTs and other virtual items, potentially including in-game items, and is actively courting developers to sell their virtual wares.
XR Today takes a deeper look into the Metaverse focusing on what will surely be a major feature, VR gaming. Industry experts see real potential for VR investments in the future with a variety of applications in the Metaverse. Sandbox, Epic Games, and other companies are already making the move into research and development.
Riot Games, publisher of League of Legends has committed $2M to a non-profit SoLa Impact’s I CAN Foundation. Riot’s financial backing will go towards the building of the SoLa Technology and Entrepreneurship Center which plans to offer South LA students free STEM education and training such as coding, animation, design, and more.
Continuing a booming acquisitions trend into 2021, GTA publisher Take-Two Interactive has acquired mobile games powerhouse Zynga for $12.7B. This is shaping up to be the biggest take-over in gaming history, eclipsing even Microsoft’s record-setting purchase of Zenimax Media and Skyrim publisher Bethesda Softworks in 2020.