First Metaverse Unicorn in Thailand
Power-All, a subsidiary of Foxconn-backed mass produced Metaverse “MiGroup” (Multiverse Expert) becomes Thailand forth unicorn with earn-out Acquisition
Despite the impacts of Covid-19 outbreak that have affected several industries in Thailand, in the year 2021 the country still manages to see up to three startup companies becoming ‘unicorns’, a term dedicated to startups valued at more than $1 billion. These companies are Flash Group, Ascend Money and the newcomer Bitkub. (https://www.nationthailand.com/business/40008389)
Power-All Networks Ltd., a subsidiary of Foxconn (listed under its parent company Hon Hai as no. 22 in the Fortune 500 ranking of the largest companies in the world in terms of sales), acquired 10% of MiGroup (Multiverse Expert) with USD 120 million of cash earn-out potential structured to directly align with Power-All Networks’ drive in the Pan Metaverse and Metaverse product space.
The move combines the strength of three companies together: Migroup’s “metaverse” technology and innovation in applications; CTG’s massively produceable EDTech Platform direct access to over 400,000 financial trading instruments and CTG’s expertise in the online financial trading industry; PAN’s global reach, its numerous patents and R&D in Inter-Cloud Computing, Block Chain and its pioneering effort in Pan Metaverse.
Such combination is intended to achieve a massive worldwide market through a new sensation in user experience and a worldwide De Facto Standard with the most numbers of platforms. All of these platforms are affordable to majority of the peoples in the world for continuous learning and life time building of financial knowledge, of trading and investment skills or of professional careers from being a student to post retirement time.