VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Alpha Esports Tech Inc. (CSE: ALPA) (FSE: 9HN), (OTC PINK: APETF) (“Alpha” or the “Company”), is pleased to announce that it intends to change its name from “Alpha Esports Tech Inc.” to “Alpha Metaverse Technologies Inc.”, subject to the approval of the Canadian Securities Exchange (the “CSE”). The Company expects the name change to take effect on or about January 12, 2022, and for its common shares to begin trading on the CSE under the new name on such date. The name change will better reflect the Company’s focus on - and recent investments in - the Metaverse and Web 3.0 applications.
The Company recently announced that its augmented reality (“AR”) division, Paradise City Gaming (“Paradise City”), has begun to develop AR experiences using the Niantic’s software toolkit, Lightship, which is a platform to allow companies to build AR experiences using segmented semantics, mapping and multiplayer. The Company plans to apply such technology, once developed, to the Company’s existing GamerzArcade platform, with a target launch date of spring 2022. The Company believes that integrating AR into the GamerzArcade platform will produce an immersive gaming environment where gamers can enter a virtual world and play their favourite type of classic games such as Snake Challenge® and Space Aliens Invaders®, as well as meet friends and challenge other users for blockchain-backed prizes.
Additionally, GamerzArena will now be offered as a ‘gaming as a service platform’ that will allow brands, sports teams and other organizations to integrate the Company’s tournament engine into their existing websites or platforms as a white label application to accelerate adoption of Metaverse-powered experiences.
“We’ve long believed gaming was well-positioned to lead adoption and monetization of Web 3.0 technologies. This name change to Alpha Metaverse Technologies Inc. reflects the Company’s commitment around the Metaverse and its ability to respond to evolving consumer opportunities,” said CEO of Alpha, Brian Wilneff.
The Company would also wishes to clarify a previous press release from October 20, 2021. Adam Morrison is President of GamerzArena, and not of the Company.
About Alpha Esports Tech Inc.
Alpha Esports Tech Inc. is a technology company that focuses on emerging industries in Esports, mobile gaming, ecommerce and other high growth opportunities. Through a strong portfolio of technology assets and products such as GamerzArena, Alpha Esports Tech brings a unique mass-appeal focus to modern gaming platforms. Learn more at: www.alphametaverse.com