In a significant move within the metaverse and Web3 gaming sectors, Improbable has sold The Multiplayer Group (MPG) to Keywords Studios for £76.5 million. This sale comes at a time when both the metaverse and Web3 games face challenges, with a study showing a 75.5% failure rate among Web3 games launched between 2018 and 2023. The decision by Improbable aligns with its strategy of investing in or acquiring gaming and metaverse-related teams for potential expansion or spin-offs.
Keywords Studios, known for developing games for third-party developers, has experienced significant financial shifts recently. Despite earmarking €91.9 million for acquisitions, the company has seen a substantial 49% drop in its shares year-to-date, leading to a net debt position of €11.4 million as of June 2023. The acquisition of MPG is expected to strengthen Keywords’ presence in the gaming industry.
The move by Improbable reflects broader trends in the metaverse and Web3 gaming sector, which, despite challenges, continues to grow and evolve. The potential for innovation and development in these areas remains vast, with the need for time to realize the best use cases and products
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