- With the acquisition, Infinite said it seeks to add ReKT’s entertainment and esports business to its existing platform, which covers social, gaming, virtual and remote production, non-fungible token (NFT) minting, content and metaverse creation.
- The deal is based on an equity valuation for Infinite Reality of $2 billion, for a combined post-close valuation of $2.47 billion. Infinite Reality plans to go public in a SPAC merger with Universal Security Instruments (UUU).
- Infinite was formed from the merger of social ecommerce platform Display Social, entertainment production company Thunder Studios and metaverse builder Infinite Metaverse.
- “The synergies across our combined business units from content creation to Web 3 entertainment to APIs and more are awe inspiring,” Infinite CEO John Acunto said in a statement.
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