(MENAFN- GlobeNewsWire - Nasdaq) Paving the Way for the Next Evolution of the Metaverse
Toronto, Canada, Nov. 14, 2024 (GLOBE NEWSWIRE) --
Metaverse Group , one of the world's leading metaverse landholders and builders, is thrilled to announce its Acquisition of Pavia , a decentralized virtual cross-chain world. This strategic acquisition positions Metaverse Group at the forefront of the metaverse revolution by expanding its virtual infrastructure offerings, enhancing its enterprise capabilities, and solidifying its leadership in the rapidly growing digital space.
As part of this acquisition, Metaverse Group will take ownership of the Pavia Metaverse IP and its groundbreaking Metaverse-as-a-Service (MaaS) infrastructure. This innovative technology empowers individuals and enterprises to create their own virtual worlds, similar to how WordPress enables website creation today. The MaaS platform unlocks the power of user-generated metaverses, providing businesses and creators the tools to easily design and manage their own virtual environments, driving an entirely new level of engagement and interaction across the digital landscape.
Morgan and Ryan, the visionary founders of Pavia, will continue to serve as advisors to the combined company. Their wealth of experience and expertise in the metaverse space will be invaluable as Metaverse Group scales Pavia's capabilities and offerings to a global audience.
In addition to the IP and MaaS infrastructure, Metaverse Group has also acquired Pavia's vast portfolio of metaverse land including un-minted expansion lands and in-game NFT asset collections, including Pavs, MechPavs, un-minted 0xPavs & 0xMechs, Jet Bikes and avatar wearables. Over the coming months, Metaverse Group plans to bring these assets to market, offering unique opportunities for users and enterprises to engage with the Pavia Metaverse.
This acquisition is a significant milestone for Pavia, as Metaverse Group is one of the largest metaverse landholders and builders worldwide. With a track record of delivering immersive experiences for renowned brands such as KPMG, TD, Dolce & Gabbana, Forever 21 and Sketchers, among many others, Metaverse Group's relationships with enterprises will further accelerate the growth and mainstream adoption of Pavia's virtual environment. GDA Capital, who were original co-founders of Metaverse Group, advised on the acquisition.
Metaverse Group's established leadership in the metaverse ecosystem includes ownership of the largest estate in Decentraland's Fashion Street District, where Metaverse Fashion Week is held annually, as well as the Music Hub District, home to the Metaverse Music Week. With these high-profile event spaces, Metaverse Group will bring cutting-edge fashion, music, and entertainment events to the Pavia Metaverse, further increasing its appeal and engagement among both consumers and businesses. By combining the strength of Metaverse Group's virtual property portfolio with the intellectual property of Pavia, the acquisition sets the stage for a dynamic and thriving ecosystem of digital worlds that span industries and interests.
Metaverse Group's recent acquisition by Blaze FZE, which also holds StoryFire in its portfolio, a rapidly growing social network with over 2.5 million users, adds another powerful layer of value to the Pavia Metaverse. StoryFire's massive and expanding user base will directly contribute to driving traffic, engagement, and adoption within the Pavia ecosystem, making it one of the most compelling destinations for digital content, commerce, and community interactions in the metaverse. This influx of users from StoryFire, combined with Metaverse Group's enterprise relationships and its extensive experience in building virtual environments, creates an unparalleled opportunity for Pavia to thrive in both the consumer and business sectors.
About Metaverse Group
Metaverse Group is one of the world's largest and most influential digital real estate developers. With a strong portfolio of metaverse assets and partnerships with global enterprises, Metaverse Group specializes in creating immersive digital experiences, leveraging cutting-edge technology to provide exceptional value for businesses and individuals in the virtual world. The company has a proven track record of success, with partnerships and projects across sectors including fashion, entertainment, gaming, and more.
About Pavia
Pavia is a decentralized virtual cross-chain world, offering an immersive, community-driven metaverse experience. Through its innovative technology, Pavia enables users to create, buy, sell, and interact with virtual assets and spaces in a way that empowers creators and businesses alike.
Website: Pavia.io
X: x.com/Pavia_io
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Metaverse Group PR Team
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