One of the largest tech companies Microsoft will be purchasing Activision Blizzard and its game franchises to build a metaverse gaming platform.
With terms like blockchain gaming and play-to-earn being thrown around social media, game development magnates and tech giants seem to be nearing metaverse integration. On January 18, Microsoft News announced that plans for the purchase of Activision Blizzard are in motion.
The acquisition price is said to be $68.7 billion in total, with $95 per share.
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CEO of Microsoft Gaming Phil Spencer spoke on the deal with Activision and believes that the collaborative efforts of both companies will revolutionize the gaming industry. He stated:
"Together we will build a future where people can play the games they want, virtually anywhere they want."
If the deal goes through, Microsoft will further increase its relevance in the gaming industry, and "provide building blocks for the metaverse." The acquisition will feature the most famous game franchises including Diablo, Overwatch, Call of Duty, Warcraft, and Candy Crush.
Satya Nadella, Chairman and CEO of Microsoft, talked about how the company is heavily investing in the "new era of gaming" where people can participate in gaming activities at any place they desire, stating:
"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."
With both Microsoft and Activision boards already having approved the acquisition, the deal is expected to go through sometime in 2023.
P2E games have seen immense growth and success in 2021, reaching 2.32B in revenue. However, the following years for blockchain gaming seem to be even more exciting with large tech companies stepping into the metaverse.
