Fenix360, an artist-centric social media platform, has announced plans to list on NASDAQ through a SPAC deal valued at $610 million.

The platform focuses on helping independent artists and creatives monetize their work by providing a direct connection between artists and fans. Its key feature allows artists to create content-rich apps in approximately 20 minutes, enabling them to maintain control over their media presence without costly intermediaries or algorithmic filtering.

"We are very pleased that this transaction and the consequent planned NASDAQ listing of Fenix360 should allow us to accelerate our global ambitions," says Fenix360 CEO Allan Kelpfisz. The company aims to enhance artist income while providing fans with a more engaging platform experience.

DUET's Co-CEO Dharmendra Magasvaran emphasizes the platform's potential to generate revenue through digital advertising and commerce ecosystems. Lance Ford, Founder & President at Fenix360, adds that the platform's simplicity will encourage widespread adoption among content creators.

The $610 million transaction has received unanimous approval from both companies' boards of directors. The deal's completion remains subject to DUET stockholder approval and regulatory clearances.

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