MetaWorks Platforms (CSE: MWRK) (OTCQB: MWRK), an award-winning Web3 company that owns and operates platforms in the entertainment and technology space, has signed a definitive agreement to acquire the Metaverse platform and AI avatar assets of Apex VR Holdings Inc. Apex VR is the parent company of the UtopiaVR.com Metaverse Platform. According to the company, this “significant milestone” represents the company’s focus on strengthening its position in the Web3 space. The agreement notes that MetaWorks will acquire the assets of UtopiaVR, including its Web3 business metaverse platform, Chat GPT-powered AI avatar technology, and domain portfolio, including UtopiaVR.com. Included in the acquisition is also a patent-pending IP technology covering metaverse haptics that holds potential for future development and licensing opportunities. The company noted that the transaction will accelerate its vision to extend fan and user engagement into movies, music, education and more. “We plan to finalize the closing of this transaction in the next week,” said MetaWorks Platform president Scott Gallagher in the press release. “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.”

To view the full press release, visit https://ibn.fm/iDwey

About MetaWorks Platforms Inc.

MetaWorks Platforms 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. For more information about the company, visit www.MetaWorksPlatforms.io.

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