EVR to develop new version of MelodyVR for Facebook's Oculus

Virtual reality content producer EVR Holdings announced on Wednesday that its subsidiary MelodyVR has entered into an addendum to its distribution agreement with Facebook Technologies and its Oculus VR division.

The AIM-traded firm said that as part of the agreement, it would release a new version of its MelodyVR music platform, featuring updated features and functionality for use on a forthcoming Oculus virtual reality device.

It said it would receive a financial contribution to offset its production and development costs as part of the agreement.

The new version of the MelodyVR platform would contain both new and existing content, and would offer a similar look and feel to the version currently available on the Oculus Go and Samsung Gear VR devices, with “enhanced” functionality.

Following the launch, the product could also be made available on other platforms, EVR said.

“As VR technology continues to rapidly develop, we're excited to add new features and functionality to the MelodyVR platform and for Oculus to release new hardware, which will no-doubt lead to increased user adoption of VR devices,” said EVR Holdings chief executive officer Anthony Matchett.

“We look forward to working with Oculus throughout 2019 and appreciate their partnership and support to-date.”