Asset Acquisition Includes Patent Pending Metaverse Related Technology.
Fairfield, CA., July 06, 2023 (GLOBE NEWSWIRE) — MetaWorks Platforms, Inc. (“MetaWorks” or the “Company”), (CSE: MWRK and OTCQB: MWRK), an award-winning Web3 company that owns and operates platforms in the entertainment & technology space, is pleased to announce that it has closed the asset purchase of the AI-Powered Avatar Metaverse Platform UtopiaVR.com from Apex VR Holdings, Inc. The terms of the deal were disclosed in the Company’s recent Form 8-K filing.
MetaWorks Platforms, Inc. President Scott Gallagher commented on today’s news, “This is a very exciting time and opportunity for MetaWorks and for our shareholders. We are thrilled to have closed the acquisition of UtopiaVR as we continue to execute on our overall strategy.” Gallagher continued, “With the Utopia acquisition now closed, the expansion of our platform has opened many new monetization opportunities for MetaWorks. This transaction allows us to expand our business outside of our core markets of the film and music space to the edtech and finance arenas. We have already begun planning the design and functionality of our first AI driven investor relations environment for MetaWorks that we will develop and launch as a product we offer other companies both public and private.”
The Utopia Metaverse for business platform provides a one-click, web-based, avatar-driven, mobile-friendly audio and video conferencing platform that utilizes innovative 3D web technology. The Utopia metaverse platform works on all relevant devices: PC, mobile and VR headsets such as Oculus Quest or HTC Vive.
For details on the acquisition, see the Form 8-K filed with the Securities and Exchange Commission on July 6, 2023.
About MetaWorks Platforms, Inc.
MetaWorks Platforms, Inc. (CSE: MWRK and OTCQB: MWRK) is an award-winning Web3 company that owns and operates blockchain platforms in the entertainment technology space that empower Fortune 5000 brands to create and monetize content for their communities, empowering their transition to Web3. MetaWorks Platforms owns and operates movie distribution platforms Vuele.io and MusicFX.io, its fan engagement platform that creates deeper connections between fans and artists using Web3 technologies.
Scott Gallagher, President