Versus Systems Inc. (CSE: VS | OTCQB: VRSSF) has made its name in the gaming world with their proprietary patented in-game prizing and promotions engine. In 2020, the Company has made great progress expanding within streaming, within gaming and also within the wellness sector. A key to the Company’s success to date has been to reward users who view ads, thereby achieving much greater interest from potential customers.
Versus Systems platform allows game publishers and developers to offer in-game and in-app prizing across mobile, console, PC games, and streaming media. Brands pay to place products in-game and gamers compete for those prizes.
Versus Systems enters the wellness market
In August of this year Versus Systems announced their first move into the health and wellness sector with ePlay Digital Inc. ePlay Digital is a mobile game creator and publisher specializing in sports, esports and entertainment augmented reality titles; but they also operate health and wellness applications and platforms. The announcement states that “ePlay’s catalog of health, wellness and personal improvement applications further diversifies Versus’ content offerings for reward partners in video content platforms and lifestyle mobile applications.” The global wellness market is valued at over $4 trillion which certainly gives both ePlay Digital and Versus Systems plenty of revenue potential.
Craig Finster, President and CFO of Versus Systems, commented: “When considering health and wellness platforms, with fitness apps in particular, we are looking at a market size that’s expected to reach approximately $15 billion in the next five years. We examined that growth potential and the opportunities that would bring and realized that scaling our platform into the wellness category is a no-brainer.”
In a further health theme, PredictMedix (CSE: PMED | OTCQB: PMEDF) has agreed to use Versus Systems technology to help reward, motivate, and retain patients in clinical trials. This may include rewarding patients for joining certain trials, as well as to promote compliance in testing medical therapies. A win-win for both companies. These products, for use primarily by Contract Research Organizations (CROs), academic medical centers and those in the clinical trials markets, will enter a market that Fortune Business Insights estimates at US$40 billion annually.
Versus Systems launches OMEN Rewards with HP into the $78 billion revenue Asia Pacific gaming market
In September of this year Versus Systems announced the launch of its patented in-game rewards platform, OMEN Rewards, in China. The platform is pre-installed inside HP’s OMEN Command Center and Pavilion laptops and desktops and is also available in the Windows App Store. This is a massive step for Versus Systems in terms of gaining enormous exposure in a rapid period of time. Looking at the stock price it appears the commercialization is yet to be factored in. Should the OMEN Rewards platform prove popular then the potential revenues for Versus Systems would be very significant. The Asia-Pacific’s gaming market has approximately 1.4 billion gamers that are forecast to generate $78.4 billion in gaming revenues in 2020.
Closing remarks
Versus Systems is having a very strong 2020 as they move rapidly to commercialize their technology. Their base business of providing fun rewards for players looks set to take off following 2020 deals with Kast streaming and HP (OMEN Rewards). Added to this, Versus Systems is now moving into the very lucrative wellness sector. One example being fitness apps with ePlay Digital where Versus can offer users rewards/prizes for viewing ads as they already do in other segments.
Versus Systems core concept remains that a viewer is far more likely to view an ad if there is a chance at a prize or reward. Their research shows that 97% of Versus users agree that adding rewards and prizes makes games more fun. Their expansion from the gaming and streaming worlds and into the wellness sector just further expands the potential revenue opportunity.
Versus Systems currently has a market cap of C$40.5M.