Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

The Virtual Reality Pioneer that You Have Never Heard Of

SONY, META

Whitefish, MT / September 25, 2014 / Virtual reality may still seem like science fiction to many, but experts predict that the market will exceed $1 billion in size by 2018. According to new research from MarketsAndMarkets, the industry is expected to grow at a 15.18% CAGR between 2013 and 2018 to reach $1.06 billion in size by 2018, while immersive virtual reality is expected to account for roughly $407.51 million of the market.

Facebook Inc.'s (NASDAQ: FB) acquisition of Oculus Rift for $2 billion back in March was perhaps the most visible sign of virtual reality's growth, but 3D Systems Corporation's (NYSE: DDD) acquisition of Simbionix – a 3D Virtual Reality Surgical Simulation and Training company – for $120 million demonstrates the breadth of the industry beyond just cool consumer devices targeting gamers.

According to Facebook's Mark Zuckerberg, "This is just the start. After games, we're going to make Oculus a platform for many other experiences. Imagine enjoying a courtside seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face – just by putting on goggles in your home. This is really a new communication platform."

Building a Platform

Oculus Rift – the ubiquitous face of virtual reality – began as a Kickstarter campaign designed to get the initial product into the hands of developers to begin integration with games. After developers began embracing the technology, the company started developing a consumer version that it anticipated would be released in 2015, although there's no official release date for the technology yet.

While Oculus provides affordable standardized hardware for connecting to virtual environments, there is no single platform for generating 3D virtual reality environments. Next Galaxy Corp. (OTC: NXGA) hopes to change all of that with its innovative CEEK Platform, which promises to connect virtual reality devices of all kinds, including Facebook's Oculus Rift and Google Inc.'s (NASDAQ: GOOG) Glass.

CEEK provides 100% immersive digital environments that can be accessed using a virtual reality headset, as well as augmented reality capabilities accessible through browsers, mobile phones, tablets, and VR domes. By simulating communal environments, the platform is expected to become an entertainment hub for 3D content, 360 videos and other fully immersive VR entertainment and educational experiences.

Significant Progress

Next Galaxy has made significant operational and financial progress over the past few quarters. In July, the company entered into an agreement with EON Reality – a leading provider of virtual reality solutions – to create CEEK – its fully immersive and interactive social virtual reality platform – for the Oculus Rift and other displays like the ZEISS Cinemizer and Sony Corp.'s (NYSE: SNE) Project Morpheus.

To initially populate the platform with content, the company partnered with content producers such as the Grammy-nominated music producer Willie "Bum Bum" Baker through his new production company called New Revolt. With a history of working with artists like Beyonce, Pink, India Arie, and others, Willie "Bum Bum" Baker will utilize the platform to deliver fly-on-the-wall type content with many artists.

While CEEK remains in development, the company is raising awareness of the unlimited opportunies for virtual reality and augmented reality for business through its Business Innovation and Growth (BIG) Summit produced in partnership with the Miami Beach Chamber of Commerce on January 20, 2015. Randi Zuckerberg – sister of Facebook's Mark Zuckerberg and a best-selling author – will be the keynote speaker at the event targeting business leaders, visionaries, thought leaders, venture capitalists, and entrepreneurs.

Looking Ahead

Next Galaxy is well positioned within the burgeoning virtual reality and augmented reality industry. With its CEEK platform in development, management has been very active in building a community around the product and raising awareness over the past several months. The launch of the word's first Virtual Reality Audio Headset for use with the Oculus Rift could also add to generating near-term revenue and brand awareness.

Investors interested in the virtual reality and augmented reality space may want to take a closer look at the company, particularly given its goal to become a platform play in an industry expected to surpass $16.2 billion by 2018 according to KZero Worldswide. While companies like Facebook are clear leaders in the hardware component, the platform plays could turn out to be a higher margin long-term opportunity in the industry.

For more information, see the following resource:

Company Website http://www.nextgalaxycorp.com/

Disclaimer:

Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx


SOURCE: Emerging Growth LLC



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today