dropp group Acquires Phly, Inc. (Flyy) for $25 Million to Build MetaReality

September 8, 2022

dropp group acquired Phly, Inc. ("Flyy"), a social metaverse platform, for $25 million to accelerate development of MetaReality — a physical digital twin/metaverse experience accessible via droppTV. Flyy founder Adel Al Massarani joined dropp as Chief Metaverse Officer to lead the new MetaReality division and integrate Flyy’s city-scale 3D mapping, NFT minting and social metaverse capabilities into droppLabs’ innovation stack.

Buyers
dropp group
Targets
Phly, Inc. (Flyy)
Industry
Software
Location
Riyadh Province, Saudi Arabia
Transaction Type
Buyout

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