VST.ca $VSQTF Victory Square Technologies Portfolio Company, Immersive Tech, Announces the Creation of World’s First COVID-safe Location-Based Entertainment (LBE) Virtual Reality (VR) Division “UNCONTAINED”
by @nasdaq on 20 Jan 2021, 05:15
Company launches first-ever COVID-safe location-based (LBE) Virtual Reality attractions division “UNCONTAINED” to disrupt the marketplace and fulfill demand from its Family Entertainment Center (FEC) clients.
Immersive Tech is planning for a public listing in the first half of 2021.Leading immersive experience company builds upon current and past relationships with major companies.Announcement brings creation of the world's first-ever free-roam interactive VR franchise attraction available for rapid sale to the global attraction and entertainment marketplace. VANCOUVER, British Columbia, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. ("VST") (CSE:VST) (OTC:VSQTF) (FWB:6F6), a company that provides investors access to a diverse portfolio of companies in key sectors including: digital health, gaming, blockchain, AR/VR, cybersecurity, and cloud computing, is pleased to announce that its portfolio company Immersive Tech (“Company”) has launched a premiere new Location-Based Entertainment (LBE) VR attractions division named UNCONTAINED to capitalize on the growing demand for COVID-safe attractions. UNCONTAINED will be the world’s first free-roam interactive VR franchise attraction, built for a COVID world within shipping containers. The experience will allow for up to six players to roam freely within the container while interacting inside a digital environment as a team while making decisions that help guide and define the story.
Immersive Tech designs, engineers and builds custom technology-driven experiences, whether they facilitate brand integration or are aiming to create the best real life adventure possible. The Company recently announced the creation of three unique entertainment escape rooms custom designed and built for Apex Entertainment’s new location in Virginia Beach VA, USA. The three custom room themes include an underwater submarine adventure, a post-war bunker experience, and an AI-controlled warship gone rogue featuring a race against time and a family-friendly focus.
“UNCONTAINED” leverages the manner of design experience that Immersive Tech has gained and honed over the past four years in creating and launching highly successful interactive escape rooms for Family Entertainment Centers. This is complemented by a fundamental understanding of shipping containers as highlighted in their recent 3-room escape experience for Leaps by Bayer, a Bayer Pharmaceutical company, in 2020.
In this natural evolution, Immersive Tech, through UNCONTAINED, aims to excite and amaze with a truly focused and safe multiplayer experience designed for the uncertainty of our COVID-afflicted world. To add to this important facet, UNCONTAINED has been developed for high scalability to assure its appeal for years and years ahead. Launching amidst COVID, the Company has designed the experience from the ground-up to be COVID-safe and exceed all health and safety protocols. This starts with UNCONTAINED being an outdoor attraction, designed with surface disinfecting COVID UV lights, minimal touch with antimicrobial surfaces, disposable VR headset masks, high air recirculation, and air scrubbing filtration.
The UNCONTAINED experience takes free-roam arcade VR and elevates it to an entirely new level, with a full range of environmental haptic feedback for a truly 5D experience. This is achieved through dynamic blasts of heat and cold, motion floors, environmental audio, and physical interactions within an uncontained world. See the sneak peek here.
Immersive Techs CEO Tim Bieber said, “The new UNCONTAINED VR experience is well-positioned with technology and clients to 'fill the void' left by 'The VOID' location-based VR attractions following its permanent closure in 2020. It’s unfortunate that 'The VOID' was unable to succeed in finding a sustainable business model and continue to innovate for the LBVR industry."
UNCONTAINED is the next strategic step to bring free-roam hyper-immersive VR experiences to a wider audience, backed further with a scalable franchise business model. Bieber adds that “we see substantial opportunities for the Company through this product offering which strategically places us on a path to rapid growth in 2021.”
By utilizing the shipping container as an efficient platform, it allows for a standardized build, enabling mass production, easy transportation, minimal setup time on location, and only occupies a maximum of 5 parking spots for Immersive Tech’s FEC operators located in malls, parking facilities, fairgrounds, and other public high-traffic areas. With a standard interior, the UNCONTAINED interactive console can be updated with multiple new games per year which gives operators a fresh attraction for players every time they visit.
VST CEO Shafin Diamond Tejani said, “Immersive Tech is an excellent example of how VST stays ahead of the curve and acquires true diamonds in the rough with an eye for creating value for shareholders. With the AR/VR entertainment industry poised to explode in 2021, we expect guests to be seeking new, exciting, and safe attractions that immerse one’s senses and provide unsurpassed memories and fun. The public wants to return to experienced-based attractions in a completely safe environment, and UNCONTAINED brings a solution that exceeds all safety protocols with fun, excitement, and memories as their focus.” Further to that, Tejani goes on to add, “the latest trends in the Family Entertainment Center market show VR attractions are leading the growth in the attraction market/industry worldwide.”
About Immersive Tech
As an industry leader in blending amusement park engineering and video game development, Immersive Tech has established strong working relationships with top organizations including: Bayer Pharmaceuticals, Intel, Allegiant Airlines, Capital One, Scotia Bank, and the US Food and Drug Administration among others for brand activations at events like X-Games, Boston HubWeek and more. Immersive Tech has built highly sought after escape room experiences for some of the largest Family Entertainment groups globally including APEX Ent. and Kalahari Resorts over the past four years. Immersive tech also operates the newly launched company UNCONTAINED, the world's first COVID-safe free-roam AR/VR shipping container Location-Based Entertainment franchise. For more info view the company’s latest highlight reel video or visit www.ImmersiveTech.co
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On behalf of the board,
Shafin Diamond Tejani
Chief Executive Officer
Victory Square Technologies
For further information about the Company, please contact:
Investor Relations Contact – Edge Communications Group
Email: ir@victorysquare.com
Telephone: 604 283-9166
Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 604-928-6066
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
VST's sweet spot is the cutting-edge tech that's shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't just another investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
What we do differently for investors
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF).
For investors, we offer early-stage access to the next unicorns before they're unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we're able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
Forward Looking Statement
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries, including Immersive Technologies Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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