InfiniteWorld updates its listing progress through a business combination with Aries
InfiniteWorld | May 30, 2022
Aries I Acquisition Corporation, a special purpose acquisition company, and Infinite Assets, Inc., a premium Metaverse infrastructure platform that helps brands to create, monetize, and drive consumer engagement with digital content, are pleased to provide various updates reflecting substantial progress toward consummating the previously announced business combination between InfiniteWorld and Aries later this year.
Brad Allen, a media and technology expert, has agreed to join InfiniteWorld as its Chief Executive Officer, the Company and Aries are thrilled to announce. Most recently, Mr. Allen served as Executive Chairman of Vaunt, a sports and entertainment IP development and content company for athletes, artists, and creators. In addition, he formerly served as Executive Chairman of NextVR, a virtual reality startup that was later acquired by Apple. He has decades of experience working in the technology, media, sports, and finance industries around the world, as well as serving on the boards of several private and public firms. In addition, Yonathan Lapchik, who has been acting as InfiniteWorld's CEO and is a Co-Founder of the Company, will continue to work with the company as a Senior Advisor to the CEO and as the CEO of InfiniteWorld's Web 3.0 partner, SUKU.
"I am excited and honored to be joining InfiniteWorld at this inflection point in the Company's development and at the very early days of what we believe to be a rapidly opening market for all elements of the Metaverse and Web 3.0, including digital asset creation, infrastructure, and engagement. InfiniteWorld has capabilities that I believe are well-positioned at the intersection of digital content, content creators large and small, communities of users and consumers, and next generation engagement and marketing strategies for brands around the world. I look forward to a successful business combination with Aries and our ability to grow and develop as one of the first pure-play Metaverse companies in the public markets" stated Mr. Allen.
Mr. Lapchik stated, "InfiniteWorld has experienced strong momentum this year, which puts us in a position to bring on Brad Allen, a seasoned sports, media and technology executive, to take the company to the next level of growth. It's a bittersweet moment for me but we have always anticipated bringing on new leadership for this phase. Serving as CEO of both InfiniteWorld and SUKU at the same time has been my true pleasure and I believe has been beneficial for both companies. Brad can now help InfiniteWorld transition into its next stage as a public entity. This will allow me to devote more energy to my passion for decentralization through SUKU, which I believe will help deepen InfiniteWorld's integration with other decentralized Web 3.0 ecosystems and communities."
All critical workstreams linked to the business combination and InfiniteWorld becoming a public company later this year are being actively worked on by InfiniteWorld and Aries. As a result, the transaction can be completed with no minimum cash requirement.