Aries I Acquisition Corp Stock Price, News & Analysis

InfiniteWorld has appointed David Williams as Chief Financial Officer and Erick Kwak as Chief Legal Officer as it advances its Web3 initiatives. Williams, previously with Apple, brings over 20 years of experience, while Kwak has extensive legal expertise from Content Media Corporation. This leadership enhancement aims to bolster InfiniteWorld's capabilities as it prepares for its merger with Aries I Acquisition Corporation (NASDAQ: RAM), a special purpose acquisition company, paving the way for public trading and expanding opportunities in digital content monetization.

Aries I Acquisition Corporation (NASDAQ: RAM, RAMMU, RAMMW) announced an extension of the deadline to finalize its business combination with Infinite Assets, Inc. from August 21, 2022, to September 21, 2022. This marks the first of up to twelve one-month extensions allowed under its governing documents. In support of this Extension, Aries Acquisition Partners, Ltd. deposited $80,362.03 into Aries' trust account. The merger with InfiniteWorld, a prominent Web3 and Metaverse infrastructure provider, aims to enhance consumer engagement through digital content.

Infinite Assets announced its acquisition of Super Bit Machine, a gaming studio known for developing the action game Armajet. This strategic move aims to enhance InfiniteWorld's offerings in Web3 and Metaverse experiences, integrating real-time multiplayer game development capabilities. The acquisition reflects the growing convergence of gaming and blockchain technology, positioning InfiniteWorld as a leader in this space. The transaction aligns with InfiniteWorld's mission to provide brands and creators with immersive digital experiences, leveraging Super Bit Machine's expertise.

Infinite Assets has appointed Alan Krassowski as its new Chief Technology Officer, succeeding Lucas Henning, who will transition to a full-time CTO role at partner company Suku. Krassowski brings over 30 years of experience in software engineering and security, having held senior roles at companies like ConsenSys and Intel Security. This change is part of InfiniteWorld's strategy to strengthen its leadership as it prepares for a business combination with Aries I Acquisition Corporation (NASDAQ: RAM), aimed at enhancing its Web3 and Metaverse offerings.

InfiniteWorld has launched NFT Grade, a unique platform that provides condition reports for NFTs, emphasizing detailed insights similar to traditional art markets. This initiative, co-created by InfiniteWorld and artist Sean Shim-Boyle, includes crucial data on energy consumption, aiding users in assessing the carbon footprint of NFTs. NFT Grade distinguishes itself by evaluating assets across Ethereum, Hedera, and Polygon networks. The product aims to instill trust and transparency in the NFT space, enhancing the experience for collectors and artists alike.

Infinite Assets, Inc. and Aries I Acquisition Corporation are progressing towards their business combination set for this year. Media veteran Brad Allen joins InfiniteWorld as CEO, following his experience at Vaunt and NextVR. Former CEO Yonathan Lapchik transitions to a senior advisor role. The company sees significant momentum and aims to become a public entity focused on the Metaverse. The business combination requires shareholder approval but has no minimum cash condition for closing. Discussions are ongoing, reflecting enthusiasm for the merged entity's potential in digital content engagement.

Aries I Acquisition Corporation (NASDAQ: RAM, RAMMU, RAMMW) has extended its deadline to finalize a business combination with Infinite Assets, Inc. from May 21, 2022, to August 21, 2022. This extension, the first of two allowed, includes a $1,078,125 deposit from Aries Acquisition Partners, Ltd. to its trust account. Infinite Assets, a Metaverse infrastructure platform, aims to enhance digital consumer engagement for brands. The upcoming business combination is expected to significantly impact both companies' operations and market presence.

InfiniteWorld has launched the "Chibiverse," a gaming ecosystem featuring 10,000 unique NFTs and play-to-earn basketball games. The initiative, developed in collaboration with Chibi Dinos, includes games like Primal Hoop and Chibi Adventures, allowing players to earn tokens while engaging with their NFT characters. The company is in the process of going public via a SPAC merger with Aries I Acquisition Corporation (NASDAQ: RAM), expected to close in 1H22. This merger aims to enhance InfiniteWorld's capabilities in NFT and metaverse infrastructure.