Announced
Synopsis
Universal Security Instruments, a US-based manufacturer and distributor of safety and security devices, agreed to merge with Infinite Reality, a new Metaverse innovation and entertainment company. Financial terms were not disclosed. "Today is a big day for Infinite Reality's mission of establishing economic fairness for all content creators. Infinite Reality is leading the revolution of the new creator-focused economy and is building a world in which its users will have access to, and earn money in, the social Metaverse, which includes minting, selling, and trading NFTs, providing creators themselves the ability to directly monetize their own content. This merger is an exciting next step and gives the company broader access to the capital markets, and further supports our commitment to disrupting social media and social commerce through the democratization of the open Metaverse. Infinite Reality has already secured over $50,000,000 in financing, and we are in the process of finalizing terms on further investments that will come into place upon the merger. As we become a publicly traded entity, we look forward to accelerating our platform and growth," John Acunto, Infinite Reality CEO.
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