The biggest bag in the history of gaming was just blown on a bet on the metaverse. Microsoft agreed to buy Activision Blizzard — of CoD, Candy Crush, and Leroy Jenkins fame — for $70b. It’s a record in the sector, but not without its controversy:
- Microsoft is positioning the acquisition in the press as a move into both mobile gaming and the metaverse; i.e. just another web2 giant buying web3 territory.
- Sold at 45% higher than Activision’s stock value prior to the announcement, it’s a major windfall for a CEO and company plagued by abuse allegations.
- Yet another bazillion dollar corporation just passed go, and there’s speculation that its opponents on the boardwalk are already flipping through the rulebook to see if jail is on the table.
It’s an exciting announcement for those who think the future is virtual. It’s a bummer for those who think said future should be controlled by those native to the new ecosystem, not just stalwarts with $150b in cash reserves. No matter who wins this meta game of Monopoly, rest assured, it won’t be us. But in a weird way it is comforting to know we’re not the only ones breaking the rules.