Looking Glass Labs Ltd has said it is acquiring 100% of Web 3.0 Holdings Corp, a technology company addressing business-to-consumer and business-to-business infrastructure challenges within Web3 environments.
Vancouver-based Looking Glass Labs will pay an aggregate of up to $3.15 million for the acquisition in common shares at a deemed price equal to its closing price on the day prior to the agreement, the company said.
Web 3.0 Holdings has aggregated a portfolio of retail-focused engagement and optimization assets, including crossover digital identity code scripts and digital distribution product frameworks.
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The acquisition will allow Looking Glass Labs full access to Web 3.0 Holding’s proprietary retail technology platform.
The deal is subject to final due diligence by the company and NEO Exchange approval.
Looking Glass Labs is a Web3 platform specializing in non-fungible token architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams.
Its leading brand, House of Kibaa, designs and curates a next-generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously across different NFT blockchain environments.
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