Entain Launches ‘Ennovate’ as an Effort to Enter Metaverse

Entain is to launch a global innovation hub, Ennovate to develop immersive sports and gaming experiences in the Metaverse.
Entain to Enter Metaverse

In Brief:

  • Entain will launch a global innovation hub ‘Ennovate’ to provide immersive gaming and sports experiences for its customers.
  • It’s expected to launch in March in London.
  • Verizon, Theta Labs, and British telecom firm BT are working with Entain on Ennovate.

Sports betting and gambling company Entain is all set to launch a global innovation hub, Ennovate, to offer immersive gaming and sports experiences in the Metaverse. The first lab will open in London in March. 

Entain will invest 100 million pounds ($133 million) to fund start-ups and develop applications for NFTs, augmented reality, and virtual reality. As part of this effort, new products will be tested in two retail experiences zones, or VR arcades, by customers. Out of the total investment, 40 million pounds (around $53 million) are specifically earmarked for innovation in the UK.

CEO Jette Nygaard-Andersen commented on this upcoming launch saying, Entain aims to lead the way with new exciting experiences and products for the customers and use its technology to pioneer innovations in gaming, sports, and interactive entertainment for the metaverse.

The first technology companies working with Ennovate include British telecom firm BT, Verizon, and Theta Labs. Several non-profit organizations are also collaborating with Ennovate to bring societal and environmental benefits.

Sandeep Tiku, Chief Operating Officer at Entain expressed his excitement saying, “Working with partners, Entain can achieve great things faster, both for customers and to apply these technologies and skills to benefit wider society.”

Tech giants are abuzz about the metaverse lately. Recently many firms are coming ahead to expand their footprints in the metaverse. Over the last week, Nike posted five key roles to hire talents for its metaverse ambition. Yesterday, Apple stock jumped after CEO Tim Cook revealed the company’s metaverse AR plans. All these initiatives clearly indicate more technology companies will be betting on this new concept.

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