The Virtual Reality Pioneer that You Have Never Heard Of
September 25 2014 - 09:37AM
Access Wire
Whitefish, MT / September 25, 2014 / Virtual reality may still
seem like science fiction to many, but experts predict that the
market will exceed $1 billion in size by 2018. According to new
research from MarketsAndMarkets, the industry is expected to grow
at a 15.18% CAGR between 2013 and 2018 to reach $1.06 billion in
size by 2018, while immersive virtual reality is expected to
account for roughly $407.51 million of the market.
Facebook Inc.'s (NASDAQ: FB) acquisition of Oculus Rift for $2
billion back in March was perhaps the most visible sign of virtual
reality's growth, but 3D Systems Corporation's (NYSE: DDD)
acquisition of Simbionix – a 3D Virtual Reality Surgical Simulation
and Training company – for $120 million demonstrates the breadth of
the industry beyond just cool consumer devices targeting
gamers.
According to Facebook's Mark Zuckerberg, "This is just the
start. After games, we're going to make Oculus a platform for many
other experiences. Imagine enjoying a courtside seat at a game,
studying in a classroom of students and teachers all over the world
or consulting with a doctor face-to-face – just by putting on
goggles in your home. This is really a new communication
platform."
Building a Platform
Oculus Rift – the ubiquitous face of virtual reality – began as
a Kickstarter campaign designed to get the initial product into the
hands of developers to begin integration with games. After
developers began embracing the technology, the company started
developing a consumer version that it anticipated would be released
in 2015, although there's no official release date for the
technology yet.
While Oculus provides affordable standardized hardware for
connecting to virtual environments, there is no single platform for
generating 3D virtual reality environments. Next Galaxy Corp. (OTC:
NXGA) hopes to change all of that with its innovative CEEK
Platform, which promises to connect virtual reality devices of all
kinds, including Facebook's Oculus Rift and Google Inc.'s (NASDAQ:
GOOG) Glass.
CEEK provides 100% immersive digital environments that can be
accessed using a virtual reality headset, as well as augmented
reality capabilities accessible through browsers, mobile phones,
tablets, and VR domes. By simulating communal environments, the
platform is expected to become an entertainment hub for 3D content,
360 videos and other fully immersive VR entertainment and
educational experiences.
Significant Progress
Next Galaxy has made significant operational and financial
progress over the past few quarters. In July, the company entered
into an agreement with EON Reality – a leading provider of virtual
reality solutions – to create CEEK – its fully immersive and
interactive social virtual reality platform – for the Oculus Rift
and other displays like the ZEISS Cinemizer and Sony Corp.'s (NYSE:
SNE) Project Morpheus.
To initially populate the platform with content, the company
partnered with content producers such as the Grammy-nominated music
producer Willie "Bum Bum" Baker through his new production company
called New Revolt. With a history of working with artists
like Beyonce, Pink, India Arie, and others, Willie "Bum Bum" Baker
will utilize the platform to deliver fly-on-the-wall type content
with many artists.
While CEEK remains in development, the company is raising
awareness of the unlimited opportunies for virtual reality and
augmented reality for business through its Business Innovation and
Growth (BIG) Summit produced in partnership with the Miami Beach
Chamber of Commerce on January 20, 2015. Randi Zuckerberg – sister
of Facebook's Mark Zuckerberg and a best-selling author – will be
the keynote speaker at the event targeting business leaders,
visionaries, thought leaders, venture capitalists, and
entrepreneurs.
Looking Ahead
Next Galaxy is well positioned within the burgeoning virtual
reality and augmented reality industry. With its CEEK platform in
development, management has been very active in building a
community around the product and raising awareness over the past
several months. The launch of the word's first Virtual
Reality Audio Headset for use with the Oculus Rift could also add
to generating near-term revenue and brand awareness.
Investors interested in the virtual reality and augmented
reality space may want to take a closer look at the company,
particularly given its goal to become a platform play in an
industry expected to surpass $16.2 billion by 2018 according to
KZero Worldswide. While companies like Facebook are clear leaders
in the hardware component, the platform plays could turn out to be
a higher margin long-term opportunity in the industry.
For more information, see the following resource:
Company Website http://www.nextgalaxycorp.com/
Disclaimer:
Except for the historical information presented herein, matters
discussed in this release contain forward-looking statements that
are subject to certain risks and uncertainties that could cause
actual results to differ materially from any future results,
performance or achievements expressed or implied by such
statements. Emerging Growth LLC is not registered with any
financial or securities regulatory authority, and does not provide
nor claims to provide investment advice or recommendations to
readers of this release. Emerging Growth LLC may from time to
time have a position in the securities mentioned herein and may
increase or decrease such positions without notice. For
making specific investment decisions, readers should seek their own
advice. Emerging Growth LLC may be compensated for its services in
the form of cash-based compensation or equity securities in the
companies it writes about, or a combination of the two. For full
disclosure please
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SOURCE: Emerging Growth LLC
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