Metaverse developer Improbable will cut staff to turn a profit

British metaverse developer Improbable to lay off more than 10% of staff to start turning a profit. Sky News writes about this, citing informed sources close to the company. The macroeconomic environment is forcing Improbable to “accelerate the path to profitability in our business,” a spokesman for the firm said in a media commentary.. Earlier media revealed that Improbable is preparing to raise $100 million in a round led by blockchain company Elrond.. Officially, the firm has not yet provided any details on the investment round, but admitted that the process of finding investments “takes more time” than usual.. What exactly caused the long search for investment is unclear.. Improbable founder Herman Narula said the company plans to break even in 2023. Previously, Narula agreed with the skepticism around the metaverses.. He acknowledged that video games are already inherently mini-metaverses.. The technology of virtual worlds, however, can help with the implementation of the idea of integrating user experience, says Narula.. At the same time, he agrees with the fact that the metaverses are many times more attractive for sports leagues and fashion brands than for video game developers. Gaming market vs. metaverse At the end of October, Xbox CEO Phil Spencer questioned the potential of the metaverses. According to him, the current implementations of the metaverse are more like a “cheaply created video game” than a technological breakthrough.. A skeptical position is also held by Intel. Raja Koduri, senior vice president of Intel's architecture, graphics and software division, said that in order to realize the concept of the metaverse, it is necessary to significantly increase the computing power of computers. Truly sustainable and immersive worlds with billions of people in real time will require a thousandfold increase in computing power, says Koduri. Current performance simply “is not enough to realize this vision,” he added. The reader is solely responsible for any actions taken by him on the basis of information received on our website.