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November 13, 2016

IMAX is raising $50 million to create high-quality VR

by John_A

If IMAX is going to get serious about virtual reality, it’s going to need some cash… thankfully, it’s not having trouble on that front. The media mainstay has wrapped up the first phase of an effort to raise $50 million for creating “at least” 25 premium VR experiences across numerous platforms, including dedicated IMAX VR locations. On top of its own contribution, some of the bigger investors include Acer (not surprising given its link to IMAX partner Starbreeze), the talent seekers at Creative Artists Agency and a trio of Chinese media companies (China Media Capital, Enlight Media and Studio City).

That’s a lot to invest in technology that’s still young, but it’s not shocking. IMAX is already in the midst of introducing experimental IMAX VR centers at theaters in the US and UK. The company is going to need a lot of content for those VR centers if they take off — having over two dozen high-quality experiences could keep you entertained for a while after the novelty wears off.

Via: Gamasutra

Source: PR Newswire

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