Metaverse Company InfiniteWorld To Go Public in a $700M SPAC merger

Metaverse World via Unsplash by - Julien Tromeur
Metaverse World via Unsplash by - Julien Tromeur

Infinite Assets (InfiniteWorld), a Metaverse infrastructure platform is going public. The company merged with a special purpose acquisition company (SPAC) Aries I Acquisition Crop.

The merger will have a pro forma equity valued at $700 million. It will be traded on the Nasdaq under the “JPG” ticker, the companies announced in a statement Monday. The deal will close by mid-2022.

Infinite Assets serves companies that want to monetize digital assets and NFTs (non-fungible tokens) and engage with fans. The technology company said it has made partnerships with more than 75 creators and brands. It recently combined with strategic partner Dreamview — a firm that was founded by the team responsible for computer-generated imagery (CGI) technologies at Disney and Lucasfilm.

“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,” Aries Chairman Thane Ritchie said in the statement. “InfiniteWorld’s unparalleled technology infrastructure underscores the transition of commerce to the digital world.”