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Alpha Metaverse Technologies Inc
Symbol ALPA
Shares Issued 71,272,880
Close 2022-08-18 C$ 0.09
Market Cap C$ 6,414,559
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Alpha Metaverse, Space to create e-commerce services

2022-08-18 12:35 ET - News Release

Mr. Brian Wilneff reports

ALPHA METAVERSE PARTNERS WITH FUTURE OF ECOMMERCE SPACE METAVERSE

Alpha Metaverse Technologies Inc., through its wholly owned subsidiary, Shape Immersive, has entered into a partnership with Space Metaverse to assist Space in developing e-commerce experiences in the metaverse.

Space, founded in 2021, is a leader in the metaverse commerce world and aims to provide a powerful platform that allows users to design and create their own custom virtual rooms in addition to buying and selling their products and services. Space's goal is to create a metaverse that provides consumers with a seamless and straightforward virtual experience for shopping, events, gamification and other fun social activities without physical borders.

Shape will be a preferred vendor of Space and will create retail stores and e-commerce experiences on the Space platform for leading brands that are entering the metaverse. Since being founded in 2018, Shape has been extremely successful in building award-winning brand and retail experiences in the metaverse and accumulated an impressive portfolio of leading brands, including Red Bull, Coca-Cola and RTFKT (acquired by Nike).

Space's investors include a number of the most Web3 technologies, including CoinFund, DapperLabs and AnimocaBrands. CoinFund boasts a portfolio of over 60 investments. Digital Dapper Labs is the creator of NBA Top Shot as well as a number of other blockchain-based games. Animoca Brands is the leading venture capital blockchain game portfolio.

"COVID greatly accelerated the adoption of e-commerce, and we believe Space Metaverse will help transform the e-commerce experience of many brands and consumers once again. We are excited to take digital commerce to the next level with this partnership," said James Basnett, co-founder of Shape.

Given the rapid growth of consumers entering the metaverse, Space is focused on providing tools for users to design virtual goods for purchase and to provide a platform that allows users to monetize their virtual assets and creations.

Regarding this strategic partnership, Space's chief executive officer, Batis Samadian, stated, "The founding team at Shape has been important in teaching companies and leaders about power of the metaverse, and we are proud to have them as a partner pushing Space Metaverse forward to Fortune 500 companies and category-leading brands."

Together, Shape will work alongside Space to create and extend the value of Space to support it in becoming the leading e-commerce tool in the metaverse.

About Alpha Metaverse Technologies Inc.

Alpha Metaverse Technologies is a publicly traded company, holding a portfolio of assets in gaming, metaverse technology and studio services that focus on emerging industries such as e-sports, mobile gaming, e-commerce, and other high-growth opportunities. Operational units include: Shape, a full-service metaverse studio building the future of Web3 gaming and virtual retail experiences for Fortune 500 companies and beyond through 3-D, NFT (non-fungible token), XR (extended reality) and game production; Mana, a custom-built SaaS (software as a service) solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; GamerzArena, a gaming platform that provides an e-sports ecosystem for all gamers. The platform provides video game contests for top titles where gamers can compete for cash and prizes. Alpha clients and partners include RTFKT, Olympics, Star Atlas, Red Bull, Intel, Ted and more.

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