Sports Betting Company Entain Eyes the Metaverse With a $133 Million Investment

Entain vows to launch Ennovate – an innovation center to develop gaming and interactive entertainment products for the Metaverse.

International sports betting and gambling company – Entain – plans to invest $133 million to establish a global innovation lab focused on entertainment experiences in the Metaverse. Specifically, the company intends to fund start-ups and develop applications for non-fungible tokens .for CNBC, Entain’s Chief Executive Officer – Jette Nygaard- Andersen – said the firm’s innovation hub will be called Ennovate.

The CEO noted that her company is willing to lead the way in the industry with “new, exciting products and experience for customers.” She added that the organization’s “cutting-edge technology” allows it to establish innovations in sport, gaming, and entertainment experiences for the Metaverse. As part of the effort, Ennovate will test the newest products in two retail zones or virtual reality arcades.

Entain, formerly known as GVC Holdings, is one of the leading companies in its field. It is listed on the London Stock Exchange and is part of the FTSE 100 Index. It owns brands like Ladbrokes, Sportingbet, bwin, Coral, and PartyPoker.Being headquartered in London and having a lot of influence in the United Kingdom, Entain will distribute more than $50 million of its overall investment in the British market.

WMG’s Chief Digital Officer – Oana Ruxandra – said her firm acquired “ESTATE,” which will act as a portal for the artists to appear in the Metaverse. Furthermore, the company will “develop persistent, immersive social music experiences that defy real-world limitations” and enable performers and fans to engage like never before.

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