TechFlow news — Web3 software developer Dropp Group has acquired social metaverse platform Phly, Inc. (Flyy) for $25 million.
Dropp Group aims to create a physical-digital twin metaverse. This acquisition will play a crucial role in Dropp Group’s plan to deliver experiential real estate across major cities within the metaverse.
The company is working to connect physical and digital locations, enabling consumers, communities, and brands to interact in blended online-offline (phygital) environments. DroppLabs, the investment arm of Dropp Group, will allocate the $25 million to deploy Flyy's technology in building MetaReality.
As part of the acquisition, Flyy founder and CEO Adel Al Massarani has joined Dropp as Chief Metaverse Officer, leading Dropp’s new division, MetaReality. Source link
