The international betting and gambling company Entain is looking to explore its options in the metaverse with a new innovation hub called Ennovate.
With the metaverse barging in to replace traditional activities, it seems that betting might be the next one in line.
According to CNBC’s report, the gambling company Entain, which is based in Douglas, Isle of Man, will be investing over $130M to expand its reach in the metaverse via virtual reality gambling and betting.
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The sports betting company will be joined by several large partners including Theta Labs, Verizon, and BT. The partnership has been named the Ennovate Global Innovation Hub, or just Ennovate.
Ennovate seeks to make sports betting more "immersive" and entertaining by investing in blockchain technology apps and start-ups, primarily focusing on NFTs and VR experiences.
Jette Nygaard-Andresen, CEO of Entain, talked on the plans for the metaverse, stating:
"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."
While there are no set dates on when these immersive technologies will be released, Entain will be piloting their products "in two retail experience zones, or VR arcades."
