From GlobeNewswire:

XR Immersive Tech Inc. is reporting on its significant corporate achievements in 2023 and laying out its goals for 2024. The company has focused on its Synthesis VR business, which has become one of the largest VR out-of-home entertainment marketplaces worldwide. The VR software platform currently supports over 450 VR arcades globally and over 400 VR games, with plans for accelerated growth in the $140 billion VR/AR market.

The VR location-based entertainment industry is rapidly evolving, with technological advancements such as Meta Quest 3 and advanced HTC and PICO VR models enabling enhanced immersive experiences. The adoption of augmented reality (AR) and mixed reality (MR) elements within VR experiences has allowed for more dynamic and versatile storytelling, expanding the technology’s potential for both consumers and businesses. Apple’s entry into the industry with the Apple Vision Pro is expected to further accelerate innovation and increased adoption.

XR Immersive Tech Inc.’s Synthesis VR platform has taken major strides in game development, with its successful partnership with WANADEVSTUDIO resulting in the launch of PROPAGATION: TOP SURVIVORS, the number one played game in most VR locations. The company plans to continue collaborating with developers and partners to create more exciting games and in-house content. Additionally, Synthesis VR has secured rights to popular free-roam games and is continuing their development.

The company’s LOCAL MANAGER app was developed to simplify arcade operations and improve user-friendly experiences, addressing unmet needs within the VR arcade landscape. This app combines advanced technology with an intuitive interface, integrating PC VR and Standalone VR headset content within a single platform, marking a new era in VR arcade management and content licensing.

Synthesis VR has evolved into one of the most popular content licensing platforms for commercial VR locations, offering over 400 VR games, enterprise training, and a cloud MDM model for managing VR devices and content. The recent launch of Version 4.0 of the administrator interface has prioritized user feedback and improved functionalities for operators and developers.

As the VR entertainment industry undergoes transformative shifts, Synthesis VR has taken proactive steps to navigate these changes. The company remains at the forefront of development, ensuring its platform aligns with the evolving needs of the VR entertainment industry and supports enterprise offerings from key partners such as HTC and PICO.

In addition to focusing on VR entertainment, XR Immersive Tech Inc. has expanded its capabilities by forming a team of creative professionals specializing in graphics, video, and visual effects editing, leveraging the latest AI-powered tools and technologies to create innovative products and content for high-growth industries.



Read more: XR Immersive Technologies Corporate Update