STEPVR Signs Deal To Launch Over 100 VR Arcade Stores In Thailand, First In History – Benzinga
STEPVR, a world leader in metaverse technology and the creator of many first-of-its-kind VR solutions, is entering the Thailand market.
The company just incorporated their Thailand legal entity, Petabit, with a local shareholder, and partnered up with Hahama Co Ltd, an entertainment agency in Bangkok with over 100 arcade game stores across the country. STEPVR is going to help Hahama Co Ltd transform these traditional arcades into high-end metaverse portals.
This is huge news, as the partnership is going to launch the first large-scale, multiplayer VR experience in the whole country, powered by STEPVR technology. The metaverse company hopes to pave ways for local Thailand game producers to start producing content with their hardware and software technology.
STEPVR also plans to onboard local influencers and local businesses to adopt their iMetaStar Avatar-as-a-Service solution for any creative content production. This includes livestreaming, digital marketing, publicity, sales, and any other business use cases.
STEPVR set their eyes on Thailand because it has a young energetic population with a lot of appetite for growth and entertainment. Numbering around 71 million people (as of the statistics in 2021), with over 70% of it in the productive age group between 15-65 years old, Thailand shows big promise to adopt VR en masse. It does not have any significant VR products in the first place, but it has a pretty high GDP, at about 21 057 USD, it ranks just right after China.
Every day in the country youngsters are going out in throngs, from morning to night time, populating shopping malls, concerts, fairs, pubs, and nightclubs. Without a doubt there is a lot of appetite and demand for social activities. People have high purchasing power and they are looking for opportunities to spend, to be entertained, to mix and mingle with others. Most importantly, there is no significant VR product yet in the country. Hence this seems to be a big gap in a booming market that STEPVR can easily fulfill.
Culturally, Thailand so far is showing promises to transform into the most open-minded, progressive, and innovative country in Southeast Asia across all industries, from medicine and healthcare, to entertainment, to finance and technology. It does not seem to be a far stretch that this country is going to be open-minded enough to adopt the concept of a metaverse, the next generation 3D internet.
STEPVR aims to liberate the creative power of all mankind with metaverse technology.
Founded in July 2013, STEPVR has spent years focusing on the research and development of a full spectrum of technologies required to achieve authentic virtual reality. With core technologies such as laser positioning, motion capture, robotic haptics and omnidirectional motion system, STEPVR creates the first hardware equipment that is able to replicate the user's five senses in the metaverse.
They are the creators of the world’s first Ready Player One portal to the metaverse, the world's first one-stop Avatar-as-a-Service solution, and the world’s largest and most immersive free-roam VR experience.
STEPVR began commercialization in 2021. Operating 140++ VR stores and onboarded 90+ virtual influencers monthly within 18 months of product-to-market launch, they have proven profitability and become an undisputed leader in the metaverse industry.
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