Engage XR signs deal for first 'virtual reality' school
Virtual reality (VR) technology company Engage XR updated the market on the progress of its proprietary software platform ‘Engage’ on Friday, reporting that it signed an initial six-figure dollar contract to August 2023 with Optima Domi.
The AIM-traded firm described Optima Domi as an “innovative classical curriculum development company”, with the contract being to service the first VR-based charter school in Florida.
It said Optima Classical Academy would start in the autumn semester of 2022, with between 1,350 and 1,500 third to eighth grade “instructors and scholars” attending classes virtually using the Engage platform.
Students would experience their school day and all subject area lessons inside the platform, with specific immersive lessons built by Optima Domi, which would also manage the platform for the academy.
It was planned that in the 2023-2024 school year, it would be extended to the 11th grade, and in the following school year from kindergarten through to 12th grade - the traditional final year of high school in the United States.
In addition, Engage XR said the 3M conglomerate had used its platform to build a ‘metaworld’ dubbed 3M Home.
The company described 3M Home as an exploratory VR pilot project with Engage XR and a cross-functional 3M team, after the contract with 3M was announced on 28 July by the group as part of a wider trading update.
It said the project focussed on transforming the customer experience, allowing them to interact, engage and collaborate with 3M materials and technologies in real-time from anywhere in the world.
“For Engage to be chosen to enable the world's first online VR charter school is very exciting,” said chief executive officer David Whelan.
“Engage is being utilised more and more in education and enterprise settings.
“Companies and organisations are also beginning to look at the role the MetaVerse can play in engagement.”
Whelan said the development of 3M Home using Engage was a “great example”, and pointed to Facebook's recent announcement of its plans in the space as helping to “shine a light” on what the company had been building over the last five years, increasing interest in the services it provided.
“Engage is the most customisable platform of its kind on the market today, and allows users to create unique events, deliver corporate training and develop content in one simple package.
“With security and reputation key to the success of any online business, the recent announcement of Engage XR being awarded ISO27001 certification, and our world class security measures put us ahead of the competition in many areas.”
David Whelan said the company looked to the next 12 months as an “exciting” year.
“As some of the world's biggest brands begin to move into this space, market recognition of VR and the metaverse is increasing.
“We are enabling our customers to build their own unique metaworlds just as they built their own unique websites 20 years ago.
“The metaverse will be a collection of interconnected virtual worlds, and Engage XR can play a key role in enabling it.”
At 1230 GMT, shares in Engage XR Holdings were down 0.56% at 17.9p.