dropp group Acquires Metaverse Platform Phly, Inc. for $25 Million to Create the World’s first Physical Digital Twin Metaverse

droppLabs

The strategic acquisition of Web3 industry leading platform, and its assets, accelerates dropp’s vision to offer experiential real estate from every major city in the world within the Metaverse

dropp group, a leading Web3 company, announced its strategic acquisition of Phly, Inc. (“Flyy”), a leading social metaverse platform, to develop the world’s first physical digital twin (“phygital experience”) to bridge digital and real-world locations for consumers, communities and brands who aspire to seamlessly onramp into Web3. The $25 Million acquisition will allow droppLabs, the innovation arm of dropp group, to deploy Flyy technology to create MetaReality®- the commercial and multisensory evolution of the metaverse. Accessed through the droppTV consumer facing platform, MetaReality will provide users unique, value driven Web3 experiences unavailable elsewhere.

dropp’s $25M acquisition of Flyy will allow droppLabs, the innovation arm of dropp group, to deploy Flyy technology to create MetaReality – the commercial and multisensory evolution of the metaverse.

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“Our acquisition of Flyy represents a major leap forward for our company and platform. By integrating our innovative technologies, we will deliver the most complete and compelling metaverse experience anywhere,” said Gurps Rai, dropp’s CEO and Co-Founder. “Our mission is to enable communities to build the world that they want to live in.”

The platform will feature fully immersive digital renderings of cities around the world, starting with the most iconic locations and buildings. Each building will be minted as a unique NFT so owners have access to dropp’s proprietary technology resources to build and engage communities in line with their objectives.

Flyy’s Founder & CEO, Adel Al Massarani, has joined dropp as Chief Metaverse Officer and will head up dropp’s new MetaReality division, “I am thrilled to bring Flyy into the dropp group portfolio. Collectively, we are now poised to revolutionize the metaverse and Web3 industries.”

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