Imagine AR Inc (CSE:IP) (OTCQB:IPNFF) announced Tuesday it is teaming up with KABN Systems NA Holdings Corp (CSE:KABN) (OTMKTS:TRWRF) to integrate its augmented reality technology with KABN’s Liquid Avatar application.
The three-year, $150,000 licensing agreement uses ImagineAR’s AR SDK and cloud-based studio suite to allow Liquid Avatar’s users to create and share interactive 3D greetings and messages within the app.
The technology also enables businesses and media companies to convey information and offers to users thanks to the Self Sovereign Identity platform that ensures consumers are verified, creating a potentially lucrative new revenue stream.
In a statement, KABN and ImagineAR said the platform will help commercial enterprises and media companies to create and deliver fully immersive AR experiences, allowing users to have a 3D view of products and services.
Liquid Avatar’s users will also be able to share AR-enabled resumes, invitations, event programs and other information with their social connections.
"We are thrilled to partner with KABN to provide our AR expertise, knowledge and products to their Liquid Avatar users," Alen Paul Silverrstieen, CEO of ImagineAR said in a statement. "KABN's programs provide engagement with known and verified users, creating the type of value our clients are looking for, and our multi-year agreement allows us to quickly ramp up our programs and create long-term value for our stakeholders."
David Lucatch told investors that ImagineAR's technology provides an effective way for the company to instantly deliver AR opportunities, thereby creating revenue and value opportunities for LiquidAR’s expanding user base.
"Augmented Reality provides a new way to see the world around us and allows KABN to empower Liquid Avatar's known and verified users to take advantage of this interactive technology to engage with friends, family, and other connections,” Lucatch added.
The AR market is expected to reach $198 billion by 2025, and Statisa estimates there will be an estimated 2.4 billion users of mobile AR worldwide by 2023.
Vancouver-based ImagineAR offers augmented reality-as-a service platform that enables businesses, individuals to launch their own AR campaigns.
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