There’s a new metaverse player in town. Microsoft (NASDAQ:), the world’s second-largest company by market capitalization, announced earlier this week that it had acquired Activision Blizzard (NASDAQ:) for $95 a share in a deal expected to close in fiscal 2023. Microsoft will use the video game giant to focus on the virtual worlds of the metaverse.
This week’s Crypto Biz explores Microsoft’s purchase of Activision, the new partnership between Coinbase (NASDAQ:) and Mastercard (NYSE:), and the latest funding news from the crypto world. For the full roundup of business news from the past week, sign up below for the full newsletter every Thursday.
Microsoft enters the metaverse with purchase of Activision It’s no secret that Microsoft has been considering entering the metaverse ever since Mark Zuckerberg renamed Facebook (NASDAQ:) Meta. The company found its perfect entry this week by acquiring video game giant Activision Blizzard for $68.7 billion. Satya Nadella, who has been CEO of Microsoft since 2014, described video games as playing a “key role in the development of metaverse platforms.” Activision is behind some of the world’s most iconic video game franchises, including Call of Duty, World of Warcraft, and Tony Hawk’s Pro Skater.
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