Is the metaverse really dead? – Herman Narula, co-founder & CEO, Improbable

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5 • 6 Ratings

🗓️ 15 April 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Improbable CEO and co-founder Herman Narula makes the case for the metaverse amid claims it is dead before it started, unpacks his company’s recent commercial deals and explains the impact AI is having on virtual world-building.

Improbable develops the infrastructure for virtual worlds. Backed by the likes of SoftBank and Andreessen Horowitz, the London-based company designs, builds and operates metaverse experiences for brands. Recent projects include screening a Major League Baseball match in a virtual ballpark. Last year, Improbable sold its defence business and one of its gaming ventures. In this episode, Narula explains how these commercial deals have made Improbable a more sustainable business that doesn’t need to rely on venture capital. Elsewhere, he responds to what he sees as misconceptions about the metaverse and explains the role he sees web3 playing in preventing large tech companies from dominating the metaverse.

Transcript

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0:00.0	We've been able to both be a moonshot company building technology that has a long horizon on realizing its full potential, but also create revenue value and frankly cash along the way.
0:22.6	Do I think VR devices are going to replace mobile phones or PCs or consoles?
0:27.6	It's the primary way people interact and interactive entertainment.
0:29.6	Not anytime soon.
0:33.6	We have many ventures and subsidiaries that we've built in our larger play toward the MettaVus,
0:38.3	and realising value from them is a really great way to build a sustainable business for us at Improbable.
0:45.8	From the first-time founders to the funds that back them, innovation needs different.
0:51.4	Our episode partner, HSBC Innovation Banking, is proud to accelerate growth for
0:56.7	tech and life science businesses, creating meaningful connections and opening up a world of opportunity
1:02.4	for entrepreneurs and investors alike. Discover more at www.hbcInnovationbanking.com
1:10.2	slash EN- gb.
1:16.9	Hello and welcome to the UKTN podcast, a weekly chat with the movers and shakers of the UK
1:23.8	tech industry and the destination for all things UK tech related. I'm your host,
1:29.7	Jane Wakefield, and this week I am joined by Herman Nerula, the CEO of Improbable, a firm which
1:35.5	makes software for virtual worlds and metaverse environments. Welcome, Herman.
1:40.2	Lovely to be here. Now, the tagline of your company is about designing, building and operating
1:45.3	metaverse experiences.
1:46.8	So let's start by you just sort of painting a picture for us of some of the things that
1:51.4	you have built and done so far.
1:53.1	Sure.
1:53.4	So over the last few months, and in fact the last year, we've run in excess, I think,
1:58.7	of like 30 to 40 large scale experiences with, you know, in some cases
	...

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