Metaverse Startup with $1M in 2021 Revenues Going Public via SPAC

Metaverse Startup with $1M in 2021 Revenues Going Public via SPAC

This year’s Christmas has arrived early in the form of a new SPAC offer. InfiniteWorld said Monday that it would combine with Aries I Acquisition Corporation in a deal worth roughly $700 million, according to company estimates, another SPAC transaction, and another day. We are aware. However, since we are talking about the metaverse this time, we cannot help but look.

The word has been unavoidable when Facebook decided that its initial product remit was too restrictive, which it remedied by calling itself a metaverse firm. The phrase “metaverse” is a bit of a mouthful – it refers to anything that involves technology, community, commerce, and having a second online identity — but it is all the rage in the IT industry, as a result, it is not unexpected that a firm working on the topic has found a corporation eager to combine with a blank check.

What exactly is InfiniteWorld and what does it accomplish? I had no idea; that was a great question. Fortunately, the company’s investor presentation can help a little. Let us look at the deal, the metaverse firm sells, and then talk about its financial expectations, which are a little amusing. To say InfiniteWorld is a young commercial company is an understatement, and it stands out as a low-income concern in a world where many crypto companies are expanding to large profits.

That is, until now. InfiniteWorld has a lot of potential. Let us have a discussion about it. Aries I Acquisition Corporation and Infinite Assets, Inc., better known as InfiniteWorld, are combining. The ticker symbol “RAM” is used to identify Aries I on the Nasdaq. The company’s stock is currently trading at around $10 per share, having recovered some of its lost territories since its mid-year IPO.

The majority of individuals have only used Web 2.0 to access the internet. Our lives are woven together through online apps, the social web, and software as a service, many have recently championed web3 as the internet’s next phase, but the word covers so much ground that discussions may muddle, and there are legitimate fears that its complexity would intimidate users and authorities.