Entain, a London-listed betting and gaming company, will invest up to £100 million in Ennovate, a new global innovation hub aimed at providing clients with new experiences.
Investments That Pay Off
Ennovate will spend up to £100 million in innovative projects, start-up investments, and collaborations with UK, European, and international partners, with £40 million set aside especially for UK innovation investment.
Verizon, BT, and Theta Labs will be the first technology companies to cooperate with Ennovate, and they will strive to create groundbreaking gaming and interactive entertainment experiences for customers. Not-for-profit organizations are also working with Ennovate to develop technological advances that benefit society and the environment.
All partners will work with Entain's in-house tech team and use the Ennovate Hub to design, develop, test, and implement their ideas.
Entain CEO Jette Nygaard-Andersen said: “We want to lead the way with new, exciting products and experiences for customers and use our cutting-edge technology to pioneer innovations in sport, gaming and interactive entertainment for the metaverse.”
Nygaard-Andersen also commented that they want to utilise their position as a global technology leader to encourage more widespread innovation.
“Working with partners around the globe, Ennovate will demonstrate how Entain’s industry-leading technology can both revolutionise experiences for consumers and deliver real benefits to society.”
First London-Based Innovation Lab
This spring, Ennovate will open its first dedicated innovation lab in London, at Charterhouse Square in Farringdon, where members of Entain's innovation technology team will collaborate with commercial and non-profit partners.
Entain is developing retail VR technologies and expects to build its first VR arcades later this year.
An Experience Zone will be the focal point of this and future Ennovate labs, allowing customers, partners, investors, and workers to explore different immersive sports, gaming, and interactive entertainment experiences.
Non-fungible tokens (NFTs), or unique digital collectable assets, are among the new consumer items that Ennovate plans to debut first. Entain is developing NFTs for brands within the group.
The VR Thrill
Partypoker and partypoker LIVE have announced plans to introduce their first official NFTs, powered by Theta Labs, which will feature some of the most iconic video moments and tournament hands in the company's history.
Customers will soon be able to test out ground-breaking new experiences in immersive sports and interactive entertainment for themselves, thanks to Entain's conversion of two locations into new VR retail experience zones.
Entain is developing retail VR technologies and expects to build its first VR arcades later this year.
