Two weeks ago publicly traded Alpha Esports Technologies (CSE: ALPA) changed their name to Alpha Metaverse Technologies.
This week they signed a letter of intent to acquire Shape Immersive Entertainment for almost 15 million shares plus $1 million in cash.
Originally founded in 2018 by Alex Chuang and Dan Burgar, Shape builds immersive experiences for Metaverse leading companies like Red Bull, the Olympics, and RTFKT (recently acquired by Nike). Shape is also a leader in 3D NFTs, holograms, augmented and virtual reality, and play-to-earn game development.
“The Shape team has a wealth of knowledge regarding the Metaverse and we look forward to working with them through the transaction process,” states Alpha Metaverse CEO Brian Wilneff.
“Shape has pushed the boundaries of digital experiences for a number of years for many of the world’s top brands,” states Shape CEO, James Basnett.
“Our talented group of Metaverse makers are excited about potentially joining forces with Alpha. We look forward to building our team faster and powering the future of web3 and play-to-earn gaming experiences.”