Metaworks is a prominent Web3 company that runs platforms in industries such as entertainment and technology. The company announced that it has agreed to acquire the Metaverse platform and AI Avatar assets of Apex VR Holdings, Inc. Apex VR Holdings Inc is the mother company of the UtopiaVR Metaverse Platform. This agreement will significantly impact their mission of digging solid roots in the ever-evolving space of Web3.
Based on the terms agreed upon, Metaworks is entitled to the assets of UtopiaVR. These include Web3 and ChatGpt AI-powered AI platforms, as well as its domain portfolio. In addition, the agreement also covers a patent-IP technology related to Metaverse haptics. An aspect of technology that holds potential for licensing and other kinds of development.
Furthermore, Metaverse will generate an extensive functionality of some of UtopiaVR’s GPT (Generative Pre-trained Transformer) and Metaverse environments to create alluring experiences in the music, movie, and education industries. In other words, this acquisition will further expand the capabilities of Metaworks in different areas, especially in the film industry. Effective immediately, the company will start creating novel metaverse experiences for the acquired Web3 movie The Skulleton and the first full-length NFT movie ever released Zero Contact.
President of MetaWorks Platforms, Inc. Scott Gallagher commented on today’s news saying, “We plan to finalize the closing of this transaction in the next week. The acquisition of UtopiaVR represents a major leap forward for our company and our platform. This transaction is completely in line with our belief that for metaverse platforms and Web3 technologies to scale truly, they must be accessible, frictionless, and drive real value. The UtopiaVR metaverse platform can be accessed from any smartphone, tablet, or PC anywhere in the world without needing an expensive headset or additional device. And by building on the Chat GPT powered AI Avatar technology Utopia was already working on, we can build complete and compelling metaverse experiences for films, music, and education that drive real revenue.”
Meta verse is commonly referred to as an improved duplicate of the internet and Web3. It’s the only place where the physical and digital worlds are merged in certain environments like UtopiaVR and others.
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