NFT Tech Acquires Web3 Development Company Run It Wild
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 c…
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）
NFT Tech completes the acquisition of Run It Wild, a Web3 development company
Interpretation of the news:
NFT Tech, a leading blockchain technology company, has recently completed the acquisition of Run It Wild, a Web3 development company with a notable presence in the blockchain universe. This acquisition represents an important step for NFT Tech towards expanding its offerings in the blockchain and Web3 industries.
Adam, the founder of Run It Wild, brings valuable expertise to the table, having previously served as the cooperation director of Decentraland. With his involvement, Run It Wild developed Web3 strategies for digital identity management service provider Linktree, as well as provided crucial support for AO Metaverse, the Australian Open Games universe project.
Although the acquisition price has not been disclosed, it is believed that NFT Tech will issue 10 million ordinary shares and pay $50,000 in cash in exchange for all issued and outstanding shares of Run it Wild. This is a strategic move for NFT Tech as they aim to strengthen their capabilities in the Web3 space and acquire seasoned industry veterans with the relevant expertise in Web3 strategy and project implementation.
The acquisition of Run It Wild by NFT Tech signals the increasing interest and investment in the Web3 development space by companies in the blockchain industry. Web3 technology refers to the next generation of the internet, where decentralization and blockchain technology are utilized to improve connectivity, security, and privacy. The acquisition of Run It Wild will enable NFT Tech to expand its portfolio of services and tap into new markets that are oriented towards Web3 development.
Furthermore, this acquisition will create opportunities for collaboration between NFT Tech and Decentraland, where Adam is a cooperation director. Decentraland is a virtual reality platform that allows users to create and monetize content using blockchain and NFT technology. Such collaborations could create synergies between the two companies and enable them to benefit from each other’s expertise.
In conclusion, NFT Tech’s acquisition of Run It Wild is a strategic move towards strengthening its position in the Web3 development space. With the acquisition, NFT Tech gains access to industry veterans like Adam and expands its service offerings in the Web3 space. This acquisition reflects the increasing investment and interest in Web3 technology by blockchain companies, and it is likely that we will see more similar transactions in the near future.
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