- HP has selected Versus as its gaming rewards platform to power OMEN Rewards
- Rewards integrate into television, games, live events, and apps
- Partnering with Sparx to offer predictive games, trivia, and live polling
What Versus Systems does:
Versus Systems Inc (NASDAQ:VS) (CSE:VS) (FRA:BMVB) is disrupting the conventional advertising landscape with an innovative choice/reward model. The company’s main focus is the esports and multimedia industry, where game developers use its WINFINITE platform to create competitions that provide players with the chance to win a variety of attractive prizes.
The company which has offices in Los Angeles and Vancouver, has developed a business-to-business software promotions engine that allows publishers, developers, and creators of games, apps, and other interactive media to offer prize-based matches of their games to their players. Users and players can complete in-game or in-app challenges to win prizes. The Versus platform can be integrated into mobile, console, and PC games, as well as streaming media and mobile apps. Thanks to that reach, so far some half a million prizes have been awarded already.
In a nutshell, the company’s unique advertising platform helps brands engage millennial and generation Z gamers in a non-traditional promotional format to drive product trial, new customer acquisition, incremental sales and superior ad spending returns.
In August of 2019, Versus struck a licensing deal with hardware giant HP that will see its technology used in a variety of HP products and services.
How is it doing:
In February 2021, Versus announced a partnership agreement with Xcite Interactive, a world leader in interactive audience engagement, which will see audiences able to win real-world prizes while watching sports, playing mobile games, and watching streams on their TVs and mobile devices.
Xcite’s technology has powered interactive media experiences for major sports leagues like the NFL, NBA, NHL MLB, and NCAA, as well as events like the Olympics, the World Cup, X-Games, Formula1, and corporate events around the world.
Through the partnership Versus will provide its patented rewards technology for use in both at-home and in-venue projects with Xcite, allowing fans to earn prizes through Xcite’s platform, which includes gamification through voting, polling, trivia, predictive gaming, and mini-games that fans can play alongside the live event experience.
The company also recenty signed a multi-year strategic alliance agreement with Sparx Technology Inc for rewards in live television events. Sparx will add Versus’ real-world prizing platform to the Sparx Participation Platform – a second-screen engagement tool used by global brands, events, and teams from the NFL, NBA, NHL, MLB, and more.
The Sparx platform also works with broadcast clients, including NBC, ABC, Disney, and CNN. Sparx plans to use Versus’ platform to incentivize fans to play predictive, polling, and trivia games either at-home or in-venue, before or during the live event. The two companies plan to have their co-developed products on tap in early 2021.
Versus has also partnered with Predictmedix Inc, a medical software company that integrates artificial intelligence into healthcare testing technology, to bring its rewards platform to healthcare. Under the deal, Versus' rewards platform will allow healthcare providers, research organizations, and life science companies to use rewards to recruit and retain a broader range of patients as well as to promote compliance in testing medical therapies. Predictmedix will use Versus’ platform to incentivize users and patients to take steps in their treatment. In the case of clinical trials, this may include rewarding patients for joining certain trials, as well as for complying with trial protocols.
Meanwhile, Versus is also expanding into the trillion-dollar wellness market thanks to a new partnership with award-winning augmented reality studio ePlay Digital Inc. The company is teaming up with ePlay to bring its proprietary in-app rewards technology to ePlay’s portfolio of health and wellness applications.
In September last year, Versus trumpeted the first Asia-Pacific launch of its platform, in China inside HP's OMEN Command Center, pre-installed in Pavilion laptops and desktops, and also available on the Windows App Store. OMEN Rewards is the result of a multi-year collaboration between HP and Versus Systems that has Versus’ patented prizing platform integrated into HP’s OMEN Command Center. OMEN Rewards allows everyone running the OMEN Command Center app to play their favorite games for real-world prizes, gift cards, trips, and experiences. Newzoo’s Global Games Market Report estimated that the Asia-Pacific's gaming market would have nearly 1.4 billion gamers by the end of 2020, which is more than half of all players worldwide.
The US Patent and Trademark Office has recently granted Versus 23 new claims for the company’s rewards platform. This protects systems and methods for including a participant's current geography in the prizing calculus. Along with other characteristics, a participant's location at a specific time (in a stadium, at a concert, on a bike ride, within proximity to a specific vendor) may impact which prizes are available for that participant. Prize providers on the Versus platform may use this patented functionality to create campaigns specific to locations, and events, while also allowing different prizes to be offered and won by participants who are playing or watching Versus-enabled content in different locations.
At the end of last year, Versus consolidated its shares to list successfully on the tech-laden Nasdaq. The tech group’s board approved a 1:16 reverse stock split, which took effect on the close of trade on December 14. Sixteen company shares were converted into one share, reducing the firm's issued and outstanding shares to around 10.3 million from 166 million on December 10.
The company is well funded after having closed an upsized public offering in February 2021 that raised more than US$11 million. Versus said it intends to use the net proceeds to repay indebtedness in the principal amount of US$250,000 and use the rest for working capital, marketing, and sales expenses. The funds will also support the continuing development of Versus’ rewards platform.
- Availability of Versus and Sparx Technology’s co-developed products in early 2021
- Momentum from the Asia-Pacific launch of its rewards platform and partnership with HP
- Driving revenue and user growth through deals in the gaming, multimedia, healthcare, and wellness industries
What the boss says:
"We are actively integrating into more machines, more games, and more interactive media offerings than ever before — at precisely the time when people really want to earn real-world rewards in their games and social streams," Versus CEO Matthew Pierce has said in a recent update to shareholders.
"Signing millions of dollars worth of contracts and growing our viewer and player reach into the millions both in North America and Asia, is something the team is very proud of. We look forward to continuing these successes.”
Contact the author Uttara Choudhury at firstname.lastname@example.org
Follow her on Twitter: @UttaraProactive