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Entain to commit £100m to immersive entertainment in the metaverse

Entain to commit £100m to immersive entertainment in the metaverse

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Global sports betting and gaming company Entain has announced that it plans to invest £100m ($130m) in the launch of an innovation lab aimed developing immersive sports and entertainment experiences in the metaverse.

The new venture will be called Ennovate and will support start-ups and develop applications for nonfungible tokens, virtual reality and augmented reality. In addition, two retail experience zones, will be established as consumer testing centres for new products.

Joining Entain in the new Ennovate initiative will be British telecoms leader, BT, plus Verizon and Theta Labs, with a London launch intended for next month.

Entain’s CEO Jette Nygaard-Andersen said in a statement: “We want to lead the way with new, exciting products and experiences for customers and use our cutting-edge technology to pioneer innovations in sport, gaming and interactive entertainment for the metaverse.”