Infinite Reality, an immersive AI company focused on digital media and ecommerce, has acquired Action Face, an AI-powered avatar creation platform.
Through this deal, Infinite Reality is picking up proprietary technology that allows people to create lifelike, custom 3-D avatars from a simple selfie. Infinite Reality seems a lot like a metaverse company, but it doesn’t call itself that.
Action Face’s capabilities align with Infinite Reality’s aim to power deeper, more immersive fan and customer engagement with brands while improving business outcomes for its clients.
Infinite Reality plans to leverage this acquisition to enhance its platform offerings, providing users with more dynamic and personalized interactions. In addition to integrating Action Face’s technology, iR will also continue to nurture the company’s impressive relationship with partners, which includes NBALAB,the National Basketball Association’s research and development incubator focused on innovative design,imaginative concepts, and strategic partnerships.
The all-stock transaction, which values Infinite Reality’s shares at $3.5 billion, showcases strong market confidence in iR’s vision and capabilities, and underscores the company’s unwavering commitment to strategic growth and innovation. With immersive experiences expected to generate up to $5 trillion in value by 2030, iR is well positioned to scale and lead in the category.
“We see immense potential for applying Action Face’s technology within our platform, and in service of our clients across sports, entertainment, retail, and other business verticals,” said John Acunto, CEO of Infinite Reality, in a statement. “Digital identities are evolving beyond flat profile photos. Now, customized, hyper-realistic avatars can empower brands and their customers to express themselves andengage with each other in new and more dynamic ways, which, until recently, have largely only existedinside video games.”
An acquisition spree
Infinite Reality has been on a deal tear. In February, Infinite Reality bought 3D web engine maker Ethereal Engine for $75 million in a share deal that valued Infinite Reality at $2.5 billion.
Then it bought social sports platform Stakes for $8 million in a share deal that valued Infinite Reality at $3 billion.
And on April 23, Infinite Reality did its biggest deal with the $250 million purchase of Drone Racing League in a deal that valued Infinite Reality at $3.5 billion. Drone Racing League has a focus on drone technology, media and a sports ecosystem. That means that in the course of 11 weeks, Infinite Reality was able to increase its value by $1 billion.
“Joining Infinite Reality’s trailblazing portfolio empowers us to scale our technology and reach a muchwider audience of brands and consumers,” said Kenny Davis, CEO of Action Face, in a statement. “As the world becomes increasingly hybrid due to the merging of the digital and physical realms, we are excited to leverage our combined expertise to continue to shape the future of interactive entertainment andcommerce.”
Action Face’s tech
With the snap of a selfie, Action Face’s 3-D face scanning technology creates a photorealistic, animatedavatar that reflects a person’s unique facial features. Anyone can create an avatar on Action Face’s iOS app, then choose from hundreds of aspirational customization options, including hairstyles, poses, andoutfits.
The avatar comes to life through videos, known as Action Clips, where the avatar appears in augmented reality or cartoon environments, which can be shared with friends or on social media. Action Face also developed proprietary technology to transform a user’s on-screen avatar into a 3D-printed figurine, in partnership with HP. When activated for sports events, any user could make a purchase through the app and a high-quality action figure would be shipped to their doorstep.
Action Face was created by former Hasbro and Activision employees who wanted to democratize the joy that A-list celebrities experience from seeing their likenesses in action figures. Drawing upon their expertise in physical action figures and online gaming, they decided to bring this opportunity to themasses in both digital and physical forms.
Photorealistic avatars fuel greater self-expression and authenticity, making virtual interactions feel more natural and appealing within immersive experiences.
Infinite Reality’s investors include RSE Ventures, Liberty Media, Lux Capital, Lerer Hippeau, MGM, CAA, T-Mobile Ventures, Courtside VC, Exor, Terracap, IAC, Live Nation, DJ and producer Steve Aoki, rock band Imagine Dragons, NBA player Rudy Gobert, Interscope Records and more.
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