{"id":65198,"date":"2022-08-01T19:37:34","date_gmt":"2022-08-01T16:37:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65198"},"modified":"2025-09-06T18:39:39","modified_gmt":"2025-09-06T15:39:39","slug":"w3bcloud-to-go-public-via-spac-the-amd-consensys-joint-venture","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/w3bcloud-to-go-public-via-spac-the-amd-consensys-joint-venture\/","title":{"rendered":"W3BCLOUD to go public via SPAC, the AMD-ConsenSys joint venture"},"content":{"rendered":"<p>W3BCLOUD, the joint venture of chip-maker Advanced Micro Devices (AMD) and Ethereum-solutions provider ConsenSys, <a href=\"https:\/\/uploads-ssl.webflow.com\/626675e28722b7d1a6e10666\/62e78114e67b531775303aa4_SPAC%20Transaction%20Announcement.pdf\">announced<\/a> plans to go public.<\/p>\n<p>This will take place via a merger with the <span data-descr=\"special purpose acquisition company\" class=\"old_tooltip\">SPAC<\/span> Social Leverage Acquisition Corp I. The latter is listed on the New York Stock Exchange and has $345 million in trust.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019re thrilled to announce W3BCLOUD plans to go public via a <a href=\"https:\/\/twitter.com\/hashtag\/SPAC?src=hash&#038;ref_src=twsrc%5Etfw\">#SPAC<\/a>, combining with <a href=\"https:\/\/twitter.com\/SocialLeverage?ref_src=twsrc%5Etfw\">@socialleverage<\/a> to continue building out our leading <a href=\"https:\/\/twitter.com\/hashtag\/storage?src=hash&#038;ref_src=twsrc%5Etfw\">#storage<\/a> and compute infrastructure platform, powering <a href=\"https:\/\/twitter.com\/hashtag\/Web3?src=hash&#038;ref_src=twsrc%5Etfw\">#Web3<\/a>. Read about it here \ud83d\udc49 <a href=\"https:\/\/t.co\/Xx2udfLMHd\">https:\/\/t.co\/Xx2udfLMHd<\/a><\/p>\n<p>\u2014 W3BCLOUD (@W3BCLOUD) <a href=\"https:\/\/twitter.com\/W3BCLOUD\/status\/1554061945958936577?ref_src=twsrc%5Etfw\">August 1, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>AMD, ConsenSys, SK Inc. and others have committed to provide an additional $50 million in investments. The indicative valuation of the combined firm is about $1.25 billion.<\/p>\n<p>In September 2019, AMD and ConsenSys announced the creation of a joint venture that would focus on blockchain cloud computing. Among its main clients are the DeFi sector, NFT- and metaverse-oriented projects, as well as technology companies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis deal will enable us to expand support for Web3 developers and scale in line with the expected substantial growth of the sector\u2019s economy,\u201d said the company\u2019s CEO Sami Issa.<\/p>\n<\/blockquote>\n<p>In June 2020, W3BCLOUD raised $20.5 million through the sale of convertible bonds to the founding companies and several family offices in the UAE.<\/p>\n<p>In June, the Web3 adoption consulting firm ScienceMagic.Studios, <a href=\"https:\/\/forklog.com\/en\/news\/sciencemagic-studios-raises-10-3m-in-pre-seed-funding-to-demystify-web3-for-brands-and-talent\">raised $10.3 million<\/a>. The financing was provided by Coinbase Ventures, Digital Currency Group, and billionaire Alan Howard.<\/p>\n<p>For more on what Web3 is, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-web3\">read the educational cards<\/a> ForkLog.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>W3BCLOUD, the joint venture of chip maker Advanced Micro Devices (AMD) and Ethereum-solutions provider ConsenSys, announced plans to go public.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1404,1520,246],"class_list":["post-65198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-amd","tag-cloud-computing","tag-consensys"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=65198"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65198\/revisions"}],"predecessor-version":[{"id":65199,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/65198\/revisions\/65199"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=65198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=65198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=65198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}