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Niantic Wayfarer to Build Metaverse

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Niantic Wayfarer, the creators of popular augmented reality game Pokemon Go, is planning to build a metaverse with £300 million funding from cryptocurrency investor, Coatue.

Niantic already has one of the most popular apps on mobile devices, with over 50 million players each month. The developer released an Apple Watch version of the game in its latest update, letting players catch Pokemon with a tap of the wrist.

The developers have promised more updates in the coming months, building on their experience creating Pokemon Go and Ingress - another augmented reality game that asks players to visit real-world locations to unlock special powers within the game.

Investor Partners With Niantic

Coatue is a well-known crypto and blockchain investor which has previously helped to set up companies such as Fireblocks and MoonPay.

Coatue general partner, Matt Mazzeo told CoinMarketCap. “We are excited to partner with Niantic because we see this infrastructure supporting a metaverse for the real world and helping to power the next evolution of the internet."

He added; “Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition in computing".

Niantic is reportedly hoping to develop a real-world metaverse that will utilise technology to improve humans' experience of the world.

For more Metaverse news, see here.

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