- Alpha Metaverse (ALPA) has completed the acquisition of 100 share capital of Shape Immersive Entertainment
- This involved the acquisition of all of the issued and outstanding share capital held by all of the former shareholders of Shape
- Shape creates three-dimensional and non-fungible token content and experiences for brands
- Bringing Shape’s content-creation abilities into the company’s portfolio of gaming solutions is intended to accelerate the company’s metaverse production capabilities
- Alpha Metaverse Technologies Inc. is a technology company that focuses on emerging industries in Esports, mobile, console and web-based gaming
- Shares of Alpha Metaverse Technologies Inc. were up 13.33 per cent, trading at $0.13 at 2:21 p.m. ET
Alpha Metaverse (ALPA) has acquired 100 per cent of the share capital of Shape Immersive Entertainment.
Shape creates three-dimensional and non-fungible token (NFT) content and experiences for brands, including Red Bull and the Olympics. Shape has also created metaverse experiences for NFT leaders RTFKT (recently acquired by Nike) and Star Atlas
Bringing Shape’s content-creation abilities into the company’s portfolio of gaming solutions is intended to accelerate the company’s metaverse production capabilities, provide cross-selling opportunities across business units and allow further gaming intellectual property development and speed to market.
Shape will function as a business unit within the company and Shape’s management team will continue to lead the studio.
“Acquiring Shape accelerates Alpha’s positioning as a global leader in metaverse technology, NFT content creation and Web3 gaming,” said Brian Wilneff, CEO of Alpha.
“Shape’s reputation and skill sets are important assets to add to Alpha’s growing portfolio of gaming software as a service (SaaS) applications and metaverse capabilities,” he added.
A leader in metaverse development since its inception in 2018, Shape was founded by Vancouver VR/AR Association co-presidents, Alex Chuang and Dan Burgar.
“The metaverse is anticipated to be worth between $8 trillion to $13 trillion by 2030,” noted James Basnett, CEO of Shape.
“By combining Shape’s talent and experience in Web3 with the existing gaming portfolio and user base of Alpha, Alpha will further its expansion into Web3 and position itself to capitalize on the unique tipping point in technology disruption,” he added.
In connection with the acquisition, the company also announces that 3,500,000 performance warrants that were issued on September 1, 2020 to certain consultants have vested in accordance with their terms and become exercisable.
Alpha Metaverse Technologies Inc. is a technology company that focuses on emerging industries in Esports, mobile, console and web-based gaming.
Shares of Alpha Metaverse Technologies Inc were up 13.33 per cent, trading at $0.13 at 2:21 p.m. ET.
