NEWS OUT:
Avaterra.com, Inc. and MMI Finance.com, Inc. Announce Agreement to Develop and Market the First Virtual World Targeted At the Investment Community
SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 22, 2000--Today Avaterra.com, Inc. (OTCBB:AVAR - news), and MMI Finance.com announce that they have signed an agreement to develop, market and sell the World's first financial information virtual world community targeted at investors. The new virtual world, or VZone, due to be launched in Q2 2000, will provide an advanced interactive platform for public companies to engage in investor relations activities in real-time, using Avaterra's proprietary and licensed technologies.
The virtual world will offer public companies virtual corporate suites that will consist of several rooms, including corporate presentation and meeting areas. In addition, MMI Finance.com will partner with companies that provide additional investment oriented information, guidance and research resources.
This VZone is viewed by both companies as a major breakthrough for the virtual world industry, as it is among the first communities where investors can visit presentation rooms and attend virtual meetings directly with public company executives and others who appear as avatars (graphical characters that look and behave like human beings). The integration of Avaterra.com's Media Interface will add a powerful information display tool, allowing simultaneous display of web-based applications including corporate presentations, video streaming, or investor information.
''This virtual financial community will allow for real-time interaction with the multitude of other investors online. The individual investor historically has only been able to interact using simple text-chat sites and forums,'' said David Andrews, CEO of Avaterra.com, Inc. ''This is a major breakthrough for the most active topic on the Internet: investment and personal finance. MMI finance.com is a visionary company, and we are delighted to enter into this exciting licensing agreement with them. Visitors to the investment zone will be able to take advantage of Avaterra.com's Media Interface and virtual world technology to provide the most interesting and informative experience on the Internet.''
About Avaterra.com, Inc.
Avaterra.com (OTCBB:AVAR - news) builds consumer and business-oriented interactive virtual worlds in the form of Virtual Zones(TM) (VZones(TM)). Consumers enter themed VZones as avatars (customized graphical representations of themselves) and express themselves by personalizing their appearance and communicating with other avatars through words, gestures and facial expressions.
The VZones technology enables a heightened level of personal expression and identity, interpersonal communication, and community that is unmatched on the Internet. Unsurpassed user visit durations are a testament to the appeal of avatars and the personal bonds established within these communities. Avaterra.com derives revenue from advertising, member fees, custom virtual community development and software co-licensing. For investor information, please call (888) 845-5853, email ir@avaterra.com, or visit www.avaterra.com.
Note: Certain statements made in the press release contain projections or other forward-looking statements. These projections and statements are based on the Company's current expectations and estimates as to prospective events and circumstances which may or may not be in the Company's control and as to which there can be no firm assurances given. These projections and forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. The Company cautions readers not to place undue reliance upon any such projections or forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Note to Editors: All trademarks, trade names, registered trademarks, or registered trade names are property of their respective holders.
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Contact:
Media Contacts:
Avaterra.com, Inc.
Julie Rottmayer, 408/845-9050 x344
jrottmayer@avaterra.com
Investor Relations, 888/845-5853
ir@avaterra.com
www.avaterra.com |
