Virtual Reality Can Either Live or Die; it’s Up to Money to Decide
Virtual reality can definitely be an overwhelming experience for a lot of people, but luckily there is one company that wants to make it a whole lot easier.
Los Angeles based technology company Visionary VR, is a company that focuses on story creation and content depiction. The company has raised a little over five million on their initial round of funding which was headed by DFJ Ventures. DFJ Ventures partner, Bubba Muraka, will also receive a seat on Visionary’s board.
Virtual reality content will have to face a few major mountains to climb what could keep developers from lending their money. The virtual reality experience has to be enjoyable enough for masses of people to take up the devices in a welcoming manner. In addition to all of that, developers and designers are on a need to know basis especially in regards to if such a sufficient user base does actually seem to be real or worthy of the resources required in such a large capital investment in virtual reality content.
Visionary VR’s primary initiative is to help virtual reality content originators simultaneously create and expand any experience involved with the creation of stories they are creating without having to leave their headsets to experience it. The company wants to bank on the major influx of developers and creators who are jumping straight into virtual reality as technology such as the Oculus Rift is about to hit the markets.
This is Visionary VR’s initial major funding round since they approached their angel investors and friends and family poured $580,000 into the company. Jonnie Ross, the co founder of Visionary VR said that this funding will hopefully allow the company to “accelerate and build” its business software suite.
Virtual reality headset manufacturers are driving both the development and distribution of VR content by investing significant technical and monetary resources in developers, in an effort to build up an exclusive content library.
High demand for VR headsets by mobile and console gamers will fuel demand for virtual reality content. The virtual reality content market will take an increasing portion of the mobile gaming software industry.
Other industries are also beginning to experiment with virtual reality content. Travel firms, publishers, social media platforms and e-commerce related businesses are beginning to see how large of a potential there is within this new category.
Beyond gaming, virtual reality video entertainment will remain shortened until demand for VR headsets hits higher than the current need.
Ads featured on VR headsets will most likely be viewed more than standard video ad spots.
Ross said, “DFJ invests in companies that are crazy enough to change everything and we’re one of those companies.”
Gil Baron, Visionary VR’s CEO, correlated those thoughts in a statement. He said, “Today, only expert-level developers can create virtual reality stories,” Baron said. “We’re going to change that.”
The technological industry has promoted the mentality of virtual reality for the past few decades. But only now, with headsets backed by big names like Sony and Facebook, are we seeing virtual reality finally starting to form a concrete product with mass market potential for growth and longevity. While virtual reality technology is mainly associated with the gaming industry, the platform offers a new set of content opportunities in entertainment, advertising, and more.
BusinessInsider Intelligence research analyst, Margaret Boland, came up with an in depth detailed report on virtual reality content that examines just how various virtual reality headset categories will shape virtual reality content development, it also looks at the trajectory points for mobile gaming revenues and analytics to get a normal sense of how much spending on virtual reality content might develop. The report also lays out what types of content users and developers can expect on such platforms, this will include not only gaming but also video entertainment, and advertising. BusinessInsider is selling that report for a hefty $495.