Saturday September 30, 2023

Niantic Raises $300M to Build Metaverse

  • Niantic has raised $300 million.
  • The software development company will use the money to build a metaverse.
Niantic/Design: Alex Brooks
Front Office Sports Today

Donovan McNabb and the State of Football

From Taylor Swift to the Prime Effect, there's a lot going on in the world of football.
Listen Now
September 29, 2023 | Podcast
Copy Link
Link Copied
Link Copied

Niantic, the creator of augmented reality gaming hit “Pokémon Go,” has raised $300 million, valuing the company at $9 billion.

The California-based company will use the money from tech-focused investment manager Coatue to build the “real-world metaverse.”

“You could call it the ‘real-world metaverse’ to distinguish it from the virtual video game version,” Niantic founder and CEO John Hanke said last month. “I think we are just going to experience it as reality made better: one infused with data, information, services, and interactive creations.”

Niantic adds to a growing list of tech companies building metaverse apps, which are projected to reach over $3 billion in consumer spending in 2022.

  • Microsoft announced an integration with its office-focused Microsoft Teams software and metaverse platform Mesh with an eye toward gaming.
  • Disney CEO Bob Chapek said he envisions building a metaverse using streaming service Disney+ as a platform.
  • Nike partnered with Roblox to build Nikeland, a virtual playspace featuring courts, arenas, and product showrooms with digital shoes and apparel.
  • Epic Games is building a metaverse with a goal to reach 1 billion users, citing its potential to be a “multi-trillion-dollar part of the world economy.”

Last month, Niantic generated $62 million in revenue from its mobile apps, with $29 million coming from iOS and $33 million from Android.

Copy Link
Link Copied
Link Copied

What to Read

ESPN, Tiger-Rory Golf League Close To Long-Term Deal

New entity backed by Woods, McIlroy nears critical agreement
The swoosh logo at Nike Eugene.

Nike Misses Revenue Projections for the First Time in Two Years

The company offset the shortfall by exceeding expectations in earnings per share.

Will Sports Benefit From New Streaming Alliance?

Advocacy group involves many of sports streaming's largest players

ESPN Reportedly Closing Studios In Aftermath Of Layoffs

ESPN's Seaport studio will reportedly close by 2025.
podcast thumbnail mobile
Front Office Sports Today

Donovan McNabb and the State of Football


Featured Today

Ryder Cup’s Future Hanging In The Balance Amid Saudi Disruption

An unexpected change could be coming to the Ryder Cup.
September 29, 2023

Colorado Has Become the Hollywood of College Football. This Weekend Proves It.

Folsom Field will welcome dozens of Hollywood stars on Saturday.
Toy Story
September 29, 2023

‘Toy Story’ Success Could Lead to More Disney-Branded NFL Kid-Casts

A successful ‘Toy Story’ game could open the door for other franchises.
Kansas City Chiefs tight end Travis Kelce on field after the game at GEHA Field at Arrowhead Stadium.
September 29, 2023

Taylor Swift Shaking Up Travis Kelce, Chiefs Prop Betting Market

Sportsbooks are capitalizing with Taylor Swift-themed prop bets.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
The U.K. regulator is Microsoft's last major hurdle to pass.

U.K. Reconsiders Activision Takeover Amid Revised Microsoft Offer

Microsoft's new proposal grants cloud streaming rights to Ubisoft.
A judge denied the FTC’’s injunction request to block Microsoft’s deal.
July 11, 2023

Microsoft Beats FTC to Move Forward With Activision Blizzard Takeover

A judge denied the FTC’’s injunction request to block Microsoft’s deal.
The FTC is filing an injunction to block Microsoft's deal.
June 12, 2023

FTC Makes Another Move to Block Microsoft’s Activision Blizzard Takeover

Microsoft's $69B takeover faces scrutiny in the U.S and U.K.
Goals from the Stanley Cup Final are being shown as 3D videos on Roblox.
June 7, 2023

NHL Uses Roblox to Recreate Stanley Cup Final Goals in 3D

The Roblox activation leverages the NHL's puck and player tracking system.
Nike's .Swoosh NFTs will integrate with future games from EA Sports.
June 2, 2023

Nike NFTs to Appear in EA Sports Video Games

Nike launched its .Swoosh NFT marketplace last year.
FaZe Clan went public last year at a $725M valuation.
May 22, 2023

FaZe Clan Lays Off 40% of Staff Amid Esports’ Economic Woes

FaZe Clan went public last year at a $725M valuation.
The PIF upped its shares in EA by 55%.
May 16, 2023

Saudi Arabia’s Public Investment Fund Increases Electronic Arts Investment

Saudi Arabia's PIF upped its shares in EA by 55%.
May 11, 2023

EU Likely To Approve Microsoft’s $69B Acquisition of Activision Blizzard

It's the biggest deal in gaming history.