Latest News

In a metaverse proposal, Microsoft will buy gaming behemoth Activision Blizzard

As part of its push into the growing metaverse sector, Microsoft unveiled on Tuesday a US$68.7 billion acquisition plan for gaming behemoth Activision Blizzard.

“Gaming is the most dynamic and exciting category in entertainment across all platforms today”
” and will play a key role in the development of metaverse platforms,”
Then,Satya Nadella, chairman and CEO of Microsoft says in a statement.

Microsoft’s all-cash acquisition of the Fortune 500 corporation behind billion-dollar franchises like Call of Duty, Candy Crush. Then, and Warcraft is expected to propel Microsoft into third place in the US$174 billion gaming market. That’s, behind Tencent and Sony.

The metaverse has become a top priority for internet firms, to the point that Facebook. So, the near-US$900 billion social media behemoth, rebranded to “Meta” to focus on the metaverse.

The transaction is planned to finalize in fiscal year 2023, although regulatory approval is still pending.

On the Nasdaq Tuesday, Microsoft shares (MSFT) were down 2.43 percent, while Activision Blizzard (ATVI) was up 25.88 percent.
Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.