After forging a partnership together earlier this year, Vancouver-based NFT Technologies announced this month that it has entered into a definitive agreement for the acquisition of Run It Wild, a multidisciplinary blockchain, metaverse and NFT development studio.
NFT Tech, whose goal is to mainstream decentralized ownership, NFTs, and the metaverse for public markets, says the transaction complements its NFT infrastructure, investment, and play-to-earn gaming offerings.
“The acquisition of Run It Wild is one of the most important steps NFT Tech has ever taken toward mainstreaming NFTs and the metaverse,” stated Wayne Lloyd, Executive Chairman of NFT Tech. “Run It Wild is the gateway for brands to navigate the possibilities of Web3, and has been responsible for pioneering some of the most successful ‘firsts’ in the industry.”
Run It Wild’s Adam De Cata will take over as the new CEO of NFT Tech effective immediately, according to a joint statement from the companies. Adam replaces Mario Nawfal, who will serve as a strategic advisor to NFT Tech.
“We’re thrilled to have Adam on board and can’t wait to see what we achieve under his leadership,” said Lloyd.
Adam is the founder and director of Run It Wild and Head of Partnerships at Decentraland, the world’s first fully decentralized, 3D virtual reality platform built on the Ethereum blockchain, where Vancouver companies are doing cool things through the metaverse.
“[NFT Tech] has established themselves as the only publicly-traded company focused on extending real-world utility and value in NFTs to mainstream adoption, and as an industry, we are only scratching the surface of what can be achieved,” said Adam.
“The expansion of our combined offerings will not only drastically propel our growth, but also shepherd some of the most iconic global brands and their consumers into the metaverse through unique NFT experiences,” he added.