Credit: Hape
News

Hape Parent Company Digimental Studio Acquired for $12M

BY Eric James Beyer ā€¢

May 24, 2023

In a strategic move that could signal significant implications for the metaverse, Vertex Labs, the UK-based Web3 and AI infrastructure company, has announced its acquisition of Digimental Studio, the creative force behind the 3D NFT fashion brand Hape, for $12 million. The acquisition is expected to strengthen Vertex Labs’ standing as a provider of Web3 and AI infrastructure worldwide.

Digimental Studio is set to merge with Vertex Labs’ metaverse protocol, Vertex Network, and 3D metaverse platform, LightCycle, the latter of which Digimental will take the lead on the creation and development of. The move promises to expand Digimental’s offerings, signifying a landmark for the Hape project, which has swiftly gained a strong and loyal following since its launch in 2021.

“The shared vision is for HAPE to become the go-to destination within the fashionverse and a home for its community members through its integration into Vertex Lab’s 3D metaverse platform, LightCycle,” the Hape team wrote while announcing the deal on Twitter.

Hape to introduce staking program

The Hape fashion brand, recognized for its digital art inspired by street fashion, tech, and music, boasts a substantial NFT community globally, with over 420,000 Discord members and one million members across various platforms. The Hape Prime NFT collection has seen massive amounts of trading volume throughout its existence, totaling over 57,277 ETH ($100 million).

Under Vertex Labs, Hape is expected to continue its growth, maintaining its collaborations with fashion and lifestyle heavyweights such as Italian fashion giant Diesel and global lifestyle brand JƤgermeister. In addition to these ongoing collaborations, Hape will introduce a new staking program for its community members. This initiative is designed to provide its partners unprecedented access and infrastructure support within the Web3 space.

Credit: Hape

Vertex Labs’ CEO, Ander Tsui, shared his enthusiasm for the acquisition and its implications for the future. “We have developed the world’s first blockchain dedicated to metaverse development, and now, by adding Digimental to our stable ā€“ together we can truly push the boundaries of the digital world,” he said in the press release announcing the acquisition.

One of the more notable outcomes of the merger is the integration of the $CMP token into Hape’s native ecosystem. This integration will allow token holders to purchase on-chain digital clothing within the Hape marketplace using $CMP.

Digimental Studio, led by founder Matt Sypien, will take the reins in developing LightCycle, Vertex Labs’ 3D metaverse platform. Sypien expressed his excitement about this new chapter for his studio, emphasizing that Vertex Labs’ support would elevate their offerings and foster stronger community engagement in the Web3 space.

“As we enter the Hape 2.0 era, our collaboration will push the frontiers of the digital world. Cultivating a loyal and engaged community has always been at the heart of HAPEā€™s success,” Sypien said in the press release.

Vertex Labs’ acquisition of Digimental Studio is a sign of the evolving landscape of the digital world. As the metaverse continues to grow and develop, collaborations such as these are only becoming more common, expanding the boundaries of what is possible in digital spaces.

Editorā€™s note: This article was written by an nft now staff member in collaboration with OpenAIā€™s GPT-4.

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