Niantic, the creator of Pokemon Go (an AR-based gaming experience), recently received a $ 300 million investment from a global investment management firm called Coatue. Together with the generous investment, the company’s overall valuation has reached $ 9 billion.
Niantic will use the resources to develop the latest games, develop new experiences, advance the recently announced Lightship developer platform and its vision of the Niantic Metaverse.
Niantic will use $ 300 million to create better experiences for users
As mentioned in an official blog post, John Hanke, Founder and CEO of Niantic, says, “We are building a future where digital creations, entertainment and information are overlaid on the real world to make it more magical, fun and informative.” Additionally, he says, “This requires a significant investment in talent, technology and imagination, and we are thrilled that Coatue is with us on this journey.” Niantic also announces that players have run more than 17.5 billion kilometers while playing its games like Pokemon Go and Ingress.
Coatue General Partner says Niantic is creating a “3D world map”
Matt Mazzeo, General Partner at Coatue, said, “Niantic is building a platform for AR based on a 3D world map that we believe will play a critical role in the next transition in computing.” Additionally, Mazzeo says, “We’re excited to partner with Niantic because we see this infrastructure support a real world metaverse and help drive the next evolution of the Internet.” In order for people to play Pokemon Go, the application needs to be synced with the local maps so that people can explore the real world in the game.
Niantic recently partnered with Fold to create a bitcoin earning experience
Recently, Niantic also partnered with digital payments company Fold to create a new AR-based experience that allows users to earn Bitcoin, the world’s largest cryptocurrency. As mentioned in the company’s official press release, the new experience will consist of blocks that appear around the user and can be viewed with a smartphone’s camera. When a user successfully opens the box, an “explosion of rewards” is triggered. Niantic’s augmented reality expertise will help Fold expand its current services where it already enables users to earn Bitcoin while paying for things through the Fold app.