Display Social, a social media e-commerce platform, has acquired Thunder Studios and Infinite Reality. However, details of the deal are not yet available to the public. John Acunto, co-founder and CEO of Display Social, will continue to hold his current position. While Rodric David, CEO of Thunder Studios, will stay on as the company president.
With its new resources, Display Social plans to provide the creator economy with a suite of tools currently without parallel. This will include NFT minting and metaverse creation tools-an industry that even traditional companies like Adidas have begun to move into. However, the company’s primary goal now is to offer metaverse tools that will allow creators to broadcast Hollywood-quality productions in the metaverse.
“This is one of the biggest metaverse mergers to date, bringing together social media that pays the creative community, the most amazing team of metaverse builders from Infinite Reality, and the top independent production studio in California,” Acunto says in the press release, “This business combination will create a disruption not seen in decades, and we intend to quickly become a market leader in all things social and metaverse. The announcements made by industry leaders in this space about the future of social and the metaverse always fail to mention how they intend to pay the creators and communities that will build the future of the metaverse. The creative community is built into the fabric of our companies and its leadership.”
Display Social : The Social That Pays
Display Social lets users profit from their posts through ad revenue and affiliate commissions. Creators tag a product in their post, allowing users to purchase at the point of discovery. Display then pays creators 50% of the ad revenue their content generates.
Thunder Studios offers broadcast services for the entertainment industry, focusing on esports, gaming, music, virtual production and the metaverse. The studio is the principal investor in Infinite Reality, which supports creators and companies that aid in metaverse’s construction. Infinite Reality lets users socialize via interactive first-person experiences.
Elliot Jobe, co-founder of Infinite Reality, is quoted in the press release, “We’re thrilled to be coming together at such a pivotal moment in time – where creators can finally be at the helm of their own economic destiny. Impossible to imagine the kinds of creativity, experiences, and connections creators will unlock using this technology. Perhaps within the prospect of an open metaverse, we discover we are not alone after all.”