Infinite Reality, a creator of AI-powered experiences, has acquired the Drone Racing League for$ 250 million. The acquisition, which increases the company ’s valuation to$ 3. 5 billion, more expands its investment in the digital real area. Eternal Truth has ties to numerous technologies—many with unmet potential—from online worldbuilding to blockchain-based resources and social media platforms that share advertising revenue with people. “The future of sports and entertainment involves new and disruptive formats that are wildly more immersive, ” John Acunto, CEO of Infinite Reality, said. “Now, with our combined assets, [ Infinite Reality and Drone Racing League ] are set to usher in a new era of sports entertainment, powered by cutting edge tech and fueled by fandom, creativity and community. ” Infinite Reality had planned to go public in first 2024 via Newbury Street Acquisition Corporation while touting its AI skills. The businesses were granted a six-month extension to finish a bargain by shareholders in March. In 2022, Infinite Reality added games team Rogue and the London Royal Ravens ( which afterwards relocated to North Carolina ) to the mix, as well as a material production studio and talent management firm focused on online characters. Some of IR’s talks have taken the form of property purchases. DRL and Infinite Reality may combine their team as part of the deal. DRL CEO & Founder Nicholas Horbaczewski may be promoted to Infinite Reality Global President and DRL President Rachel Jacobson to Infinite Reality President, Global Business Ventures and Partnerships. Founded in 2015, DRL touted a global footpint of 320 million families during its 2022-2023 time given its media supply deals, while tallying 260 million online views globally on competition articles. Its TikTok accounts comes with 5. 4 million fans. Sensor has long explained itself as a technology company second, with new pushes into engaging articles and video games. The U. S. Air Force has been its longest running stakeholder. “The group engages a desired audience of young, high-energy Tech-Setters who have a passion for trip, innovation and technology, ” U. S. Air Force Brigadier General Christopher Amrhein said in a speech next July. Sensor has recently received purchases from significant activities, media and tech companies, including Stephen Ross ‘ RSE Ventures, Liberty Media, ISOS Capital, WWE, CAA Ventures, Lux Capital and Hearst Ventures. Other partners have included Google Cloud, Allianz and T-Mobile, as well as title sponsor Algorand. ( This story will be updated. )
