Piper Alderman advises on sale of Run It Wild to Canadian-listed company
12/07/2022
Piper Alderman advised Adam De Cata and Run It Wild, the multidisciplinary blockchain, metaverse and NFT development studio, on its sale to Canadian-listed technology company, NFT Technologies Inc. (NFT Tech).
NFT Tech develops infrastructure, assets, real estate and IP in the metaverse, build and generate revenue from P2E (play-to-earn) and M2E (move-to-earn) games, and bring insights and benefits to the public markets. It is listed on Canada’s NEO Exchange.
Run It Wild partners with brands to navigate the possibilities of Web 3.0. It specialises in art, collectibles and gaming, with a diverse portfolio that includes blue-chip brands such as the Australian Open, Linktree and the Elvis Presley estate.
Adam De Cata, newly appointed CEO of NFT Tech, stated:
“I am honored to join the strong team at NFT Tech and help build on top of what the firm has already accomplished. They’ve established themselves as the only publicly-traded company focused on extending real-world utility and value in NFTs to mainstream adoption, and as an industry, we are only scratching the surface of what can be achieved.
The expansion of our combined offerings will not only drastically propel our growth, but also shepherd some of the most iconic global brands and their consumers into the metaverse through unique NFT experiences.”
The Piper Alderman deal team, led by Partner, Michael Bacina, with Partner, Joe Murphy, Special Counsel, Steven Pettigrove and Associate, Tim Masters, advised on various aspects of the transaction including advising and negotiating on the share sale and executive employment agreements, due diligence, and corporate and regulatory approvals in connection with the acquisition.
Michael Bacina commented on the deal:
“NFTs continue to grow in popularity and find innovative use cases. Run It Wild has been at the forefront of sports NFTs with the AO Art Ball for the Australian Open. This deal brings greater global expansion opportunities for both sides.”
With the acquisition of Run It Wild, NFT Tech is expanding its NFT development and partnerships offering to leading brands and IP holders around the world seeking to create unique NFT experiences directly for consumers. The transaction complements NFT Tech’s industry-leading NFT infrastructure, investment, and play-to-earn gaming offerings.
Related media coverage:
- Run It Wild advised on sale to Canadian listed company – Lawyers Weekly, 20 July 2022
- NFT Technologies Inc.’s Acquisition of Run It Wild – Global Legal Chronicle, 14 July 2022 (Paywall)