{"id":68026,"date":"2022-10-03T19:27:12","date_gmt":"2022-10-03T16:27:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68026"},"modified":"2025-09-07T11:49:58","modified_gmt":"2025-09-07T08:49:58","slug":"improbable-plans-to-raise-100-million-111-million-for-otherside-metaverse-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/improbable-plans-to-raise-100-million-111-million-for-otherside-metaverse-network\/","title":{"rendered":"Improbable plans to raise \u00a3100 million ($111 million) for Otherside metaverse network"},"content":{"rendered":"<p>British startup Improbable, which is building the infrastructure for the Otherside metaverse for Yuga Labs, is poised to raise a further \u00a3100 million ($111 million). The <a href=\\\"https:\/\/www.ft.com\/content\/e0e7cf90-0c5e-4a56-8285-9d36f8c43264\\\">Financial Times<\/a> reports.<\/p>\n<p>The round is led by Elrond, a technology blockchain company. It is expected that the startup will be valued at over \u00a33 billion ($3.3 billion). In 2018, this figure stood at \u00a32.5 billion ($2.8 billion).<\/p>\n<p>Investment pours in despite a weak investment climate in the tech startup space. In 2021, Improbable posted a loss of \u00a3152 million ($171.6 million).<\/p>\n<p>Co-founder and chief executive Herman Narula said that a shift toward building metaverses has positively affected the company&#8217;s finances. Thanks to the collaboration with Yuga Labs, by 2022 he expects revenues to triple to over $100 million.<\/p>\n<p>In 2017, Improbable received $502 million from SoftBank.<\/p>\n<p>In April 2022, the startup raised <a href=\"https:\/\/u1f987.com\/en\/news\/improbable-raises-150-million-to-build-the-m%c2%b2-metaverse-network\">$150 million<\/a> to build the M\u00b2 network of interoperable metaverses.<\/p>\n<p>In July, Yuga Labs published the <a href=\"https:\/\/u1f987.com\/en\/news\/bored-ape-yacht-club-creators-publish-lite-paper-for-the-otherside-project\">Otherside project lite paper<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The startup Improbable, which is building the infrastructure for the Otherside metaverse for Yuga Labs, plans to raise an additional $111 million.<\/p>\n","protected":false},"author":1,"featured_media":68027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[52,1353,1361],"class_list":["post-68026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-investments","tag-metaverses","tag-virtual-world-innovations"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68026"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68026\/revisions"}],"predecessor-version":[{"id":68028,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68026\/revisions\/68028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68027"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}