Odaily Planet Daily News: Herman Narula, CEO of Metaverse technology company Improbable, said the company has cut its losses to 19 million pounds (about 23 million U.S. dollars) in fiscal 2022, down from 131 million pounds (about 159 million U.S. dollars) in the previous year, while revenue in the same period more than doubled to 78 million pounds (about 95 million U.S. dollars). According to Narula, the improved performance is a direct result of its metaverse strategic shift. In April 2022, the company established an interoperable metaverse network called MSquared and received $150 million in financing, led by a16z and SoftBank Vision Fund 2; later that year, the company raised another $100 million, led by blockchain company Elrond. (The Block)