Two-time NBA champion Kevin Durant formed a $200 million special purpose acquisition company (SPAC) with his business partner, Rich Kleiman. Investing in cryptocurrencies continues.
With the SPAC company “Infinite Acquisition”, Durant became the last celebrity to join the SPAC craze.
What are SPAC Companies?
SPACs, also called blank check firms, are shell companies that collect cash in order to merge with a closely related company and make it publicly traded through a deal.
These publicly traded companies then issue detailed financial statements. After the regulatory bodies approve the deal, the SPAC company takes its place on the stock exchange.
Crypto And Blockchain Focused Collaborations Aimed!
SPAC company “Infinite Acquisition” plans to collaborate with technology and blockchain focused companies, including sports, health technologies and cryptocurrencies.
According to SEC filings, the SPAC company, which was founded on November 3, will be sponsored by Thirty Five Ventures, founded by Durant and his partner, and the LionTree bank.
Infinite Acquisition, which will be listed on the New York Stock Exchange under the ticker symbol "NFNT.U", plans to sell 20 million shares at $10 each.
It can take several weeks for SPAC companies such as “Infinite” to raise funds after they file their initial registration statement. In this context, if the “Infinite Acquisition” fails to get a company to go public within 24 months, it will have to return the money to the investors.
The superstar of the NBA, who has invested in Coinbase since 2017, continues to be interested in cryptocurrencies.
FC Barcelona Partners With Ownix!
FC Barcelona has announced a new NFT collection to strengthen their bond with their fans.
The NFT collection, prepared by FC Barcelona, will be developed by Ownix and will be released in the last week of November.
According to the information we have obtained, FC Barcelona's NFT series will include images from 26 national league titles and 5 UEFA Champions League titles. In addition, NFTs, which will include images of 95 victories, will share the 122-year history of the club with the fans.
The NFT collection, prepared by FC Barcelona, will be developed by Ownix and will be released in the last week of November.
Ownix CEO made the following statements on the subject:
We will keep our collection accessible to all FC Barcelona fans. We will certainly not have any limitations.
This year, the NFT industry was embraced with interest all over the world. The studies carried out to embellish the fans with immersive and personal experiences began to be adopted very quickly in the sports environment. Companies such as Dapper Labs, Sorare and Socios have started to cooperate with the best leagues in the world.
For example, Sorare recently made an agreement with Spain's 1st league, La Liga. In addition, the company signed an agreement with Germany's 1st league Bundesliga.
Ownix CEO continued his words as follows:
The top 5 NFTs will debut after the event we will hold at FC Barcelona facilities in the next few weeks. Other NFTs will also be available in the weeks after launch. In addition, in the future, special collections that will be produced in limited numbers will be put up for auction.
Joan Laporta, president of FC Barcelona, said:
At FC Barcelona, we are very excited and enthusiastic to take such a step. Being able to interact more with our fans is very important to us.
Many more athletes will enter this business in the future.