Coatue is known as a major investor in the cryptocurrency and blockchain industry, backing companies such as blockchain intelligence firm Chainalysis, cryptocurrency startup Fireblocks, blockchain security firm CertiK and others.

“We are excited to partner with Niantic because we see this infrastructure supporting a metaverse for the real world and helping to power the next evolution of the internet,” he added.

Unlike a sci-fi metaverse, a real-world metaverse will use technology to improve our experience of the world as we’ve known it for thousands of years,” Hanke said.