Dropp bought Phly for $25 million.
Dropp bought Phly for $25 million.
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Dropp acquires metaverse platform Phly for $25M

  • Posted byby Dean Takahashi
  • Updated
  • 5 min

Dropp Group has acquired metaverse platform Phly for $25 million to build “digital twins” of the major cities in the world.

Dropp said it is combining with Phly (which also spells its name Flyy), a social metaverse platform, to develop the a physical digital twin (‘phygital experience’) of every major city in the world to bridge digital and real-world locations for consumers, communities and brands who aspire to seamlessly onramp into Web3. The deal shows that the metaverse may be moving into an acquisition phase after seeing a burst of startup activity.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.