- **Acquisition of TerraZero by BIGG Digital Assets:**
- BIGG #Digital Assets, based in Singapore, is set to acquire all preferred shares of metaverse company TerraZero.
- The acquisition is valued at around 62 million BIGG common shares (approximately $20 million).
- The completion of the transaction is anticipated by September 2023, pending approval from TerraZero shareholders and other necessary processes.
- Following the completion, TerraZero will become a fully-owned subsidiary of BIGG.
- Existing shareholders of BIGG and TerraZero are expected to hold about 80% and 20% of BIGG shares, respectively.
- **TerraZero's Performance and Expansion Plans:**
- In Q1 and Q2 of 2023, TerraZero achieved revenue of approximately $1.5 million, marking a 161% year-on-year increase.
- The company provided activation services to notable clients including PwC, Fidelity International, and Warner Music.
- TerraZero intends to expand its operations in the latter half of 2023, focusing on the development of the Intraverse #technology ecosystem.
- The Intraverse technology ecosystem is slated for launch in Q1 2024.