Web3 company MetaWorks Platforms has acquired assets of UtopiaVR, a subsidiary of Apex VR Holdings, for an undisclosed amount. The acquisition includes UtopiaVR's Web3 business metaverse platform, Chat GPT-powered AI avatar technology, and domain portfolio, including UtopiaVR.com. The agreement also includes a patent-pending IP technology relating to metaverse haptics.

MetaWorks plans to expand on UtopiaVR’s GPT AI-powered avatars and metaverse environments to create immersive experiences in film, music, and education. The acquisition will extend MetaWorks' capabilities in the film space. The company will immediately begin building new metaverse experiences for the recently acquired Web3 and NFT movie assets for the upcoming film, The Skulleton, and for the first full-length NFT feature film ever released, Zero Contact.

MetaWorks Platforms is a Web3 company that owns and operates blockchain platforms in the entertainment technology space. It empowers Fortune 5000 brands to create and monetize content for their communities, aiding their transition to Web3. The company owns and operates movie distribution platforms Vuele.io and MusicFX.io, and its fan engagement platform creates deeper connections between fans and artists using Web3 technologies.