French games, technology, and blockchain product developer Crypto Blockchain Industries (CBI), has signed an agreement to acquire Xave, a blockchain technology company based in Barcelona and Argentina that has been developing Xave World, a dedicated music metaverse.
With its own cryptocurrency (Xave Coin) and marketplace (Xave Market), the Xave World metaverse offers a range of entertainment and concert experiences, creation tools, and various NFTs around music and artists.
Through this acquisition, Xave will become part of the Alphaverse, interconnecting all experiences around music, enabling all Alphaverse users to enjoy the shows and music from artists launched by Xave.
The Xave World Metaverse harnesses the blockchain to create innovative experiences around music, with various technologies and tools available so that artists and content creators can create their own concerts, sell tickets and NFTs, and broadcast via streaming, for instance, to develop and promote their communities. Users will also be able to monetize their own experiences and support the development of established or emerging artists.
Xave World Metaverse has a decentralized economy using its own cryptocurrency – Xave Coin – which has been publicly traded on the Probit Global exchange since March 2022.
Xave has created its own NFT marketplace, Xave Market, which operates as a digital store specialized in NFT sales.
It has developed an innovative model that makes it possible to help fund artists, their work, and their concerts, and be part of their success. The NFTs are not only digital assets, but also open up access to exclusive experiences directly with the artists (VIP passes for physical or virtual concerts, exclusive live streaming, unique and exclusive access to listen to new tracks, etc.). Users and artists will also be able to own part of Xave World’s open metaverse by purchasing their own plots of land and building personalized homes or spaces within Xave World. Each plot of land hides a secret, function, or precious material, which owners will be able to discover and capitalize on.
On the other hand, Crypto Blockchain Industries develops, operates, and invests in video games, business applications, and selected projects relating to the blockchain, non-fungible tokens (“NFTs”), and cryptocurrencies.
Founded by Frédéric Chesnais, a renowned gaming industry entrepreneur and blockchain pioneer, CBI aims to develop and unlock value from a portfolio of blockchain activities across multiple industries (video games, finance, logistics, etc.) with a view to capitalizing on this technology, either directly or through partnerships.
CBI has already made several investments and is currently developing AlphaVerse, a blockchain technology-based virtual world or metaverse that will be opening in summer 2022.
CBI has been admitted to trading on the EI compartment (qualified investors) of the Euronext Growth Paris market since October 26, 2021.