The Infinite Assets platform is set to go public in a merger with SPAC Aries I Acquisition Corp. The company offers the infrastructure for virtual reality worlds, also known as Metaverse infrastructures and it’s report that they’re looking at going public soon.
The companies behind the merger will now have a combined value of $700 million. They plan on trading under JPG, which is Nasdaq’s ticker, said both companies in a statement Monday. However, The scheduled close of the deal is in the first half of 2022.
InfiniteWorld is a company that helps brands create and monetize digital assets, like NFTs. They do this in order to engage with consumers as well as fans through these products or services they offer on the InfiniteWorld marketplace.
The company has partnered with more than 75 creators and brands. They recently held a tactical collaboration by partnering up with DreamView.It was recently found by the group responsible for the Computer-generated imagery (CGI) system at Disney and Lucasfilm.
Infinite World and SPAC, to go Public
“With up to $15 trillion of wealth expected to flow into digital assets over the next 10 years, we are witnessing the birth of a new global asset class and economic system,” Thank Ritchie, Chairman at Aries, remarked in a statement. However “Infinite World’s unparalleled technology infrastructure underscores the transition of commerce to the digital world.”
The merger will provide up to $171 million in funds. Counting the cash held by both companies and InfiniteWorld-owned cryptocurrencies valued at $93 Million. Hence Stockholders of InfiniteWorld stock could own 75% or up to 81% if certain price breakthroughs are attaining.
InfiniteWorld is excited about the opportunity to grow its platform and expand brand collaborations.
A Deloitte Blockchain Lab veteran and co-creator of blockchain ecosystem SUKU known as Yonathan Lapchik will guide the company as chief executive officer. The chief operating officer will be former DreamView CEO, Nathaniel Hunter.
InfiniteWorld has several high-profile investors, including liquidity provider Wintermute, trading firm GSR and investment firm Morgan Creek Digital.