Virtual-reality (VR) technology is expected to transform the way people communicate, experience entertainment, and play video games; and for businesses, the way they interact with customers. As early as 2020, spending is forecasted to reach $7.9 billion on VR headsets and $3.3 billion on VR entertainment.
According to analysts, China's Virtual Reality market will be worth $8.5 billion by 2020. Some of the Chinese investors and experts we met at the SVIEF think it could grow even faster. SVIEF (Silicon Valley Innovation and Entrepreneurship Forum) is the largest conference in Silicon Valley that fosters innovation and business partnership between the US and China.
Enflux took the expo hall and the stage at SVIEF, where we networked with VR experts, investors, and enthusiasts from China. Over 100 SVIEF attendees tried Enflux’s VR dancing game, Virtual Village People. For nearly everyone, it was their first experience of full-body presence in Virtual Reality. We were overwhelmed with the positive response!
Enflux CGO Mickey Ferri had the honor to speak on Enflux's role in VR, sports, and health care. And of course, Mickey’s virtual self joined him on stage.
The VR arcade model solves three important problems. First, it lowers (and even reverses) the cost of entry, since arcade owners profit from owning hardware. Second, it gives more users the opportunity to experience VR in a meaningful way, because they only have to pay small ticket entries. Third, it shortens the feedback loop between developers and consumers, creating a perfect environment for testing and rapid iteration.
That's why Enflux is establishing partnerships in both the U.S. and China. Full-body presence is critical for truly realistic experiences, and Enflux provides the most affordable and simple motion capture suits available today. We are collaborating with dozens of content development and distribution partners worldwide to deliver Enflux suits with inspiring content to consumers.
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