Dropp Group has acquired metaverse platform Phly for $25 million to build “digital twins” of the major cities in the world. Dropp said it is combining with Phly (which also spells its name Flyy), a social metaverse platform, to develop a physical digital twin (‘phygital experience’) of every major city in the world to bridge digital and real-world locations for consumers, communities and brands who aspire to seamlessly onramp into web3.
DroppLabs, the innovation arm of Dropp Group, will use the to deploy Flyy technology to create MetaReality. The platform will feature fully immersive digital renderings of cities around the world, starting with the most iconic locations and buildings. Each building will be minted as a unique NFT so owners have access to Dropp’s proprietary technology resources to build and engage communities.