According to CNBC News, sports betting and gambling giant Entain will invest USD 133 million for a global innovation lab to create realistic gaming and sports experiences in the metaverse. The announcement was made by the Entain on Monday.
The fund will assist start-ups in the development of non-fungible tokens (NFT), virtual reality (VR), and augmented reality (AR) applications.
As per the reports CEO Jette Nygaard-Andersen said : “We aim to lead the way with exciting new goods and experiences for customers, and we want to leverage our cutting-edge technology to reinvent sports, gaming, and interactive experiences in the metaverse.”
Customers will try some new items in two retail experience zones or virtual reality arenas as part of this project.
Entain plc, originally GVC Holdings, is a sports betting and gambling enterprise based in the United Kingdom. It is a component of the FTSE 100 Index and is traded publicly on London Stock Exchange.