Metaverse Company Infinite Reality acquires eSports Company for $470 Million

Lately, Infinite Reality (iR), a metaverse entertainment and production company, closed a deal to attain esports conglomerate ReKT Global, Inc. for $470 million.

The deal is supposed to be settled in stocks. Both the companies will combine the offices of their companies and integrate ReKT Global’s esports properties into iR. This includes its esports team franchises, talent management, technology products, and marketing services.

metaverse-company-infinite-reality-acquires-esports-company


ReKT is popularly known for its esports teams, the Call of Duty League team London Loyal Ravens & Team Rogue. As per the company’s website, the Rogue team has won 14 world titles and 23 major championships. With this deal, iR will also be developing offices in Los Angeles, Las Vegas, New York, Berlin, Charlotte, and London.

Infinite Reality was initiated from the merger of social e-commerce platform Display Social, the entertainment production company Thunder Studios, and metaverse builder Infinite Metaverse.

The acquisition which looks like a great deal for esports and metaverse fans will allow iR to extend its platform, which already consists of social, virtual, gaming, NFT minting, remote production, content, and metaverse creation.

The founder of ReKT Global mentions that the company is excited about the merger and that the metaverse sector was something they desired to get involved in. Although he didn’t release any detailed plans, he said that fans will be really happy with what’s coming in the next few months.

Gaming is a Huge Part of Web3 & Metaverse

This is the first big merger we’ve witnessed between a metaverse builder and an esports platform. Nonetheless, gaming has played a huge role in the expansion of the metaverse since the beginning, and we’re continuing to see the transition in the domain day after day. In fact, according to some researchers, by 2024 gaming could account for about $400 billion of the metaverse domain’s revenue.

Listed below are some of the recent headlines that NFTi has covered in reference to gaming and Web3:

Even as gamers condemn Web3 and NFT tokens for several reasons, including the environmental impacts and for overdoing the incentives of play-to-earn games, there is still a massive push into Web3 from gaming companies. This is evident from the millions of dollars being invested in this arena.

However, we will have to wait and see what Infinite Reality has in store for esports fans, but the acquisition indicates another prominent player in gaming is all in on the Web3 domain.


Hungry for more information?

NFT Calendar from NFTHi

Check out the Latest NFT News!

For more interesting updates on NFTs, connect with NFTHI on Twitter and Instagram.

Join us on Telegram!


NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.

Conduct thorough research before you start with NFT trading.

Share This Post

Related Posts

Ukraine’s security watchdog set to draft Crypto Taxation Regulations

The National Securities and Stock Market Commission of Ukraine...

Telegram founder presents an NFT-like Smart Contracts idea to auction usernames

Imagine how successful Telegram with its 700 million users...

Robert Kiyosaki suggests buying Bitcoin as he anticipates US Dollar Crash…

The well-known author of the best-selling book Rich Dad...

Colorado State in the US becomes the first to allow Bitcoin as a payment for Taxes

The authorities of Colorado announced that state citizens can...

MetaMask brings in custodial features for Institutional level NFT Investors

Institutional investment is flowing into the crypto world, especially...

BAYC NFT #6462 Ape Sale Raises Suspicions

Recently, at a price of around 200 USDC, the...
spot_img