VANCOUVER, British Columbia, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Alpha Metaverse Technologies Inc. ("Alpha'' or the "Company") (CSE: ALPA) (OTC PINK: APETF) (FSE: 9HN0) a technology company that focuses on emerging markets in gaming, NFTs, blockchain gaming, esports, ecommerce, metaverse development and other high growth opportunities.

Alpha Metaverse Technologies Inc. is proud to announce the release of our latest AI tool that enables companies to generate concept art to create 3D assets for metaverse experiences at a significantly reduced cost and time.

As companies increasingly experiment with metaverse content production, the cost of creating 3D assets has become a major challenge. To address this challenge, Alpha Metaverse Technologies has developed an AI pipeline and automation tool that will enable companies to create concept art for 3D assets quickly and cost-effectively.

"Our new AI tool is a game-changer for companies seeking to produce metaverse content," said Brian Wilneff, CEO of Alpha Metaverse. "We understand the cost and time associated with traditional 3D asset creation, which can be a barrier to development. This new AI tool will enable companies to produce 3D assets at a fraction of the cost and time, making it easier for them to develop and innovate in their metaverse experiences."

The new AI tool is built on advanced machine learning models like OpenAI's products, and the tool's automation capabilities enable the creation of high-quality concept art to develop 3D assets with minimal human intervention. This automation reduces the potential for human error and saves considerable time and cost for businesses.

Please keep an eye out for access to a Beta version of our AI tool to be accessed through the Company's website. We anticipate this will be available soon!

About Alpha Metaverse:

Alpha Metaverse Technologies Inc. (CSE: ALPA) (OTC: APETF) (FRA: 9HN0) is a publicly traded company, holding a portfolio of assets in gaming, Metaverse technology and studio services that focuses on emerging industries such as eSports, mobile gaming, eCommerce, and other high growth opportunities. Operational units include: Shape Immersive, a full service metaverse studio building the future of web3 gaming and virtual retail experiences for Fortune 500 companies and beyond through 3D, NFT, XR and game production; MANA, a custom-built SaaS solution and innovation lab that empowers partner companies to level up their community engagement by launching their own gaming platforms; GamerzArena, a gaming platform that provides an esports ecosystem for all gamers. The platform provides video game contests for top titles where gamers can compete for cash and prizes. Alpha clients and partners include RTFKT, Olympics, Star Altas, Red Bull, Intel, TED and more. Learn more at:

Contact:

Investor Relations: ir@alphametaverse.com - 604 359 1256
Media and Public Relations: media@alphametaverse.com

On Behalf of The Board of Directors
Brian Wilneff
Chief Executive Officer

Forward-Looking Statement

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business and plans, including with respect to undertaking further acquisitions, incorporation of Shape's abilities into the Company's portfolio of gaming solutions, cross-selling across business units, development of further gaming intellectual property and metaverse gaming experiences, future value of the metaverse industry and the Company's ability to position itself to capitalize on the metaverse industry. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company does not complete any further acquisitions; that the Company is unable to incorporate Shape's abilities into its portfolio of gaming solution; the Company's inability to cross-sell across business units; the risk that the Company is unable to develop further gaming intellectual property and metaverse gaming experiences; the risk the future value of the metaverse industry does not materialize; the risk the Company is unable to position itself to capitalize on the metaverse industry; and that the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.

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