Web3 software developer Dropp Group is buying social metaverse platform Flyy for $25 million

Web3 software developer Dropp Group acquired social metaverse platform Phly, Inc. (Flyy) for $25 million on September 9, BlockBeats reported. DroppLabs, Dropp Group's investment arm, will use the money to deploy Flyy technology to create "MetaReality." The acquisition will allow Dropp Group to capture the data needed to build virtual real estate in the metaverse that maps to the real world, creating a "Phygital twin metaverse" where consumers, communities and brands can interact in Phygital environments.