Mr. Brian Wilneff reports

ALPHA METAVERSE TECHNOLOGIES SIGNS PARTNERSHIP WITH GEMS TECHNOLOGY LTD; UPDATE ON GAAS

Alpha Metaverse Technologies Inc. has signed a partnership with Gems Technology Ltd. to utilize Alpha's gaming as a service (GaaS), Mana.

Alpha's GaaS, Mana, offers a fully customizable white-label tournament engine that allows organizations and brands to launch their own gaming platforms without having to finance technological or back-end systems. Mana fully supports Web3 assets such as cryptocurrencies and play-to-earn games. Mana provides the technology, the back-end, reporting and more while organizations and brands will own the customer experience in their app and/or website. Mana allows the company to provide gaming content on a continuous revenue model.

"The development and now successful sales of Mana is an important milestone for Alpha, as it provides the company with recurring revenue, strong partnerships and significant upside user growth," stated Brian Wilneff, chief executive officer of Alpha. "We are excited to help GEMS become a world leading Web3 esports tournament platform."

"We are very excited to be working along with Alpha and using Mana to build out our own successful esports tournament engine," said, Gems chief executive officer Andy Koh. "Mana will be used to build and grow our tournament engine and incorporate our Web3 assets. We will be utilizing our cryptocurrency and developing our play-to-earn games."

About Alpha Metaverse Technologies Inc.

Alpha Metaverse Technologies is a technology company that focuses on emerging industries in e-sports, mobile, console and Web-based gaming, e-commerce, and other high-growth opportunities such as augmented reality/virtual reality Web3 and blockchain-based businesses. Through a strong portfolio of technology assets and products such as GamerzArena and HeavyChips, Alpha brings a unique mass-appeal focus to modern gaming platforms.

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