- Offers augmented reality-as-a service platform that enables businesses, individuals to launch their own AR campaigns
- Mobile users can create 3D holograms, videos and images to share on social media
- Building partnerships in the sports, entertainment and gaming industries
What ImagineAR does:
ImagineAR Inc (CSE:IP) (OCTMKTS:IPNFF) creates augmented reality (AR) technology that blends together the real with the digital.
The Vancouver-based company, which changed its name from Imagination Park Technologies in April 2020, has developed ImagineAR.com and its augmented reality-as-a service platform that enables businesses or individuals to launch their own AR campaigns without any prior programming or technology experience.
Every organization from professional sports franchises to small retailers can develop interactive AR campaigns that inform, entertain and reward consumers with any type of content - including 3D holograms, videos and images as well as advertisements and coupons. Consumers can then enjoy a game-like experience that they can instantly share on social media.
The platform, protected by five patents, is simple to use. Just point a mobile device at logos, signs, buildings, products, landmarks and more to create the desired content that is activated via AR visual markers and GPS locations. The interactive content is hosted in the cloud and managed using a menu-driven portal.
The ImagineAR.com mobile app is available in the IOS and Android mobile app stores.
How is it doing:
For 2020, ImagineAR has been building partnerships in the sports, entertainment, and gaming industries while licensing its technology and strengthening its management team. It has also raised more than C$4.5 million in recent months to fund its expansion plans.
One of its biggest tie-ups is with top-ranked Spanish soccer team Valencia CF to provide its AR platform to engage its huge global fan base of 7 million. The two-year partnership represents a major milestone for ImagineAR and has created huge visibility. Valencia is also its first professional sports partner outside the US.
To further its connections with the sports industry in North America, the company recently signed a five-year revenue-sharing agreement with the NFL Alumni Academy to help launch new mobile interactive products. And ImagineAR has started a partnership with the Minnesota Wild’s double-A hockey affiliate for a fan engagement and sponsorship program.
The company has also teamed up with minor league baseball team the Louisville Bats, a Triple-A affiliate of the Cincinnati Reds, to help support local restaurant partners where operations have been affected by the coronavirus (COVID-19) pandemic. The initiative offers fans the chance to win prizes by ordering curbside pick-up from a participating restaurant and sharing on social media a picture of the experience that also incorporates a Mascot AR e-collectible image.
The Sacramento Kings NBA basketball franchise is also a partner with ImagineAR. The team wants to add AR engagement opportunities to its mobile app that fans and guests can access on their smartphones for AR scavenger hunts, in-arena photo opportunities with digital players, sweepstakes, giveaways, interactive sponsorship campaigns, and more
ImagineAR recently gained a stronger foothold in the world of sports after winning a five-year, $300,000 licensing and agreement to provide its AR platform to custom graphics company SlapItOn for the launch of its new line of interactive products featuring athletes and celebrities. SlapitOn is owned by an elite group of well-connected US athletes from football, baseball, basketball, hockey, and soccer. ImagineAR will also earn revenue fees under the deal.
The company naturally is striking other tie-ups beyond the sports industry and has started working with network and communications firm KLA Laboratories to help it advance its KLArity Ecosystem Partners Platform. KLA first designed the platform for its clients such as the Ford Motor Company (NYSE:F), Little Caesars Arena, and others to better understand emerging technologies and how the integration of those solutions could improve their businesses.
The company signed a partnership with Engaged Nation, a digital entertainment marketer to the casino industry, to integrate ImgaineAR’s interactive holographic content into the partner’s REACH platform that gives casinos the ability to reward participants for their continuous online play with free virtual currency, drawing entries and instant rewards.
In July, ImagineAR struck a memorandum of understanding with fellow tech group Loop Insights Inc (CVE:MTRX) (OCTMKTS:VRZPF) to form a combined platform aimed at the sports, entertainment, and retail industries. ImagineAR will combine its AR technology with Loop’s artificial intelligence (AI) expertise to make the customer experience hyper-personalized.
Meanwhile, ImagineAR has taken steps to add seasoned veterans from the college sports, entertainment, and newspaper industries to its management team.
Division ONE Sports founder Troy Miller and former Portland Trail Blazers CIO Chris Dill are now advisors to CEO Alen Silverrstieen with the goal of bringing AR technology to college and pro sports stadiums to enhance fan engagement. Former Pro Bowler and Washington Football Team quarterback Gus Frerotte has joined as an advisor as well.
Also advising the CEO is Mike Anderson, who ran The Sun and the News of The World in the UK. ImagineAR expects him to “significantly accelerate” the company's presence and sales throughout the UK and Europe. And former Universal Music Group executive Mike Tunnicliffe, who was recently appointed as a senior advisor to Silverrstieen, now sits on the group's board of directors.
- Anticipate bottom-line boost from revenue-sharing partnerships and new contracts
- Penetrate further into UK and European markets
What the boss says:
"We have expanded our 2020 efforts beyond our existing target market of sports/live events/retail with the [Software Development Kit] product and pursuing new AR market opportunities such as product brand package marketing, musical artists, and eSports leveraging our ImagineAR portfolio of solutions,” CEO Alen Paul Silverrstieen has said. “We are optimistic for strong revenue growth for 2020," he added.
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