Niantic gets additional support for building the metaverse as valuation hits $9B

Niantic is emerging as a key player in the construction of the metaverse and investors are eager to get in on the action.

Technology-focused investment firm Coatue has invested $ 300 million in Niantic, bringing the company’s valuation to $ 9 billion.

Matt Mazzeo, General Partner at Coatue, said:

“Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition of computing.

We are excited to partner with Niantic because we see that this infrastructure supports a metaverse for the real world and helps drive the next evolution of the Internet. “

Earlier this month, Niantic launched its Lightship platform that allows developers to start building the metaverse.

Included in the Lightship platform is ARDK, a cross-platform software development kit that brings together tools and technologies for three key AR features: real-time mapping, understanding, and sharing.

Niantic has more than a decade of experience creating experiences that blur the line between the real and virtual worlds. While it was Pokemon Go that made Niantic a household name, that game built on the company’s previous work building Ingress.

Coatue is well known in the blockchain and cryptocurrency space and has endorsed related companies such as Chainalysis, CertiK, MoonPay, and others. Blockchain and decentralization are playing an important role in creating “Web 3.0” experiences and are expected to reach the metaverses.

Niantic has yet to announce any plans to integrate any blockchain technology like NFT (Non-Fungible Tokens), but it’s easy to see how they could fit in with the company’s long-term vision.

“We are building a future where the real world overlaps with digital creations, entertainment and information, making it more magical, fun and informative,” said John Hanke, Founder and CEO of Niantic.

“This will require a significant investment of talent, technology and imagination, and we are delighted that Coatue is on this journey with us.”

(Photo by Mika Baumeister upon Unsplash)

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Tags: ardk, augmented reality, blockchain, coatue, development, investment, lightship, metaverse, nft, niantic, platform, sdk, software, web 3.0

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