VST intends to use this division to capitalize on a presumed demand for safe attractions during the COVID-19 pandemic. Uncontained will include the first world’s first interactive virtual reality franchise attraction, operated within shipping containers. The experience will give up to six players the ability to roam freely inside the container while interacting inside a digital environment.
“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.” said Shafin Diamond Tejani, CEO for Victory Square Technologies.
Immersive Tech blends amusement park engineering and video game development to produce interactive gaming opportunities. Over the past four years, they have also built escape room experiences for family entertainment groups, including APEX Ent and Kalahari Resorts, and sport a number of working relationships with companies like Bayer Pharmaceuticals, Intel, Capital One, among others.
The company views their Uncontained package is the natural next step to exposing their free-roam immersive virtual-reality experiences to a wider audience, backed by a scaleable franchise model. They content that this new product represents substantial opportunities for the company and investors, as it places them on a path towards rapid growth in the year to come.
VST is up $0.05 on the day and trading at $0.67.