NFT Tech completes the acquisition of Run It Wild, a Web3 development company

It is reported that NFT Tech announced the completion of the acquisition of Run It Wild, a Web3 development company. Adam, the founder of Run It Wild, is the cooperation director of Decentraland, the former universe platform. The company has developed Web3 strategy for Linktree, a digital identity management service provider, and also provided support for AO Metaverse, the Australian Open Games universe project. The acquisition price has not been disclosed yet, However, it is reported that NFT Tech will issue 10000000 ordinary shares and pay $50000 in cash in exchange for all the issued and outstanding shares of Run it Wild. （businesswire）

Interpretation of this information:

NFT Tech, a company specializing in non-fungible tokens (NFTs), has completed the acquisition of Run It Wild, a Web3 development company. The founder of Run It Wild, Adam, has previously worked as the cooperation director of Decentraland, a virtual reality platform. Run It Wild has provided Web3 strategy for Linktree, a digital identity management service provider, and supported AO Metaverse, an Australian Open Games project. The acquisition details have not been disclosed, but NFT Tech has reportedly issued 10000000 ordinary shares and paid $50000 in cash to acquire all the outstanding shares of Run It Wild.

The acquisition of Run It Wild by NFT Tech highlights the trend of consolidation in the Web3 and NFT space. As these emerging technologies gain momentum, companies are looking to expand their capabilities through strategic acquisitions. Run It Wild’s expertise in developing Web3 strategies for digital identity management and gaming projects is expected to complement NFT Tech’s existing capabilities in NFT development.

Adam’s experience as a cooperation director at Decentraland also adds value to NFT Tech, as Decentraland is one of the most popular virtual reality platforms that leverages blockchain technology. Through this acquisition, NFT Tech is likely to gain insights into the development and management of virtual reality spaces, which can be applied to their NFT offerings.

The acquisition price has not been disclosed, but NFT Tech’s choice to pay with shares indicates their confidence in the future prospects of Run It Wild. As NFTs continue to grow in popularity and Web3 becomes more integrated into our daily lives, companies that can offer comprehensive solutions in this space are likely to be in high demand.

In summary, the acquisition of Run It Wild by NFT Tech highlights the growing trend of consolidation in the Web3 and NFT space. Run It Wild’s expertise in developing Web3 strategies for digital identity management and gaming projects is expected to complement NFT Tech’s existing capabilities in NFT development. Adam’s experience at Decentraland adds value to NFT Tech, and their choice to pay with shares indicates confidence in the future prospects of Run It Wild.