VANCOUVER, British Columbia, June 09, 2022 (GLOBE NEWSWIRE) -- XR Immersive Tech Inc. (“ Immersive Tech ”, or the “ Company ”) (VRAR: CSE) (FSE:79W) (FNTTF: OTCQB) is pleased to announce that the Company’s recently acquired subsidiary, SynthesisVR Inc. (“Synthesis VR”), a leading location-based virtual reality (“LBVR”) content distribution and facility management platform, has released its new VR streaming product to VR arcades worldwide through a co-development partnership with QuarkXR, a pioneering company focused on VR streaming and a trusted solution provider for companies like Deutsche Telekom, Orange, Vodafone, and Ericsson, among others.

The SynthesisVR / QuarkXR streaming product offers all Location-based VR (LBVR) arcade operators a simple, and automated VR streaming solution, previously not available in the market. A solution for wireless VR game streaming handcrafted specifically for the LBVR industry through this exclusive co-developed solution. Now the connection between the host PC and Android VR Headset has been dramatically simplified, and can be handled without having to install multiple software applications, create third-party accounts and manage headset connections manually based on model, ensuring that operators have a seamless VR streaming solution that simplifies operator processes.

Krasi Nikolov, CEO and Co-Founder of QuarkXR has this to add, "We have been following the LBVR market for a couple of years, considering different ways to deliver our award-winning XR streaming solutions to all the arcades over the globe. When we were approached by SynthesisVR, it was a no-brainer and I can't be any happier how far our LBVR specific solution has gone with their support. The SynthesisVR platform turned out to be a great home for QuarkXR and I'm extremely happy to be finally delivering our co-production to all of the SynthesisVR customers."

Benefits of this wireless streaming solution for operators include:

• App supports all standalone VR headsets and requires no 3rd party accounts or extra applications for each model of headset operators choose to utilize
• Simple PC to VR headset pairing process
• Ability to hot-swap/replacing the connected VR headset without closing and restarting the game (in the event of dead battery for instance)
• Variable bitrate settings for maximum control over the stream’s performance/quality
• Universal Kiosk App works across multiple VR Headset brands
• Persistent VR streaming mode allowing headsets to auto connect when powered down between sessions
• Seamlessly switch between PC streaming games and VR games loaded directly on the standalone headset
• Operators can now easily offer free-roaming arena games to their customers from the SynthesisVR free-roam games catalog
• Eliminates the need for tethered VR experiences limited by a problematic and breakable cable attached to the game PC.

This Industry-first innovation offers LBVR operators with a VR headset agnostic solution for wireless game streaming to any standalone VR headset they choose to purchase. Add to that the effortless access to any of SynthesisVR’s catalog of 400+ PC-based or Android-based VR Games without the need for individual accounts and dedicated wireless link software for every headset operating in a VR arcade center. This all-in-one turnkey solution also seamlessly connects into the SynthesisVR facility management tech stack allowing operators to manage all of their Android-based VR headsets and limitless user gaming sessions from a single SVR admin console.

It is a winning solution for over 350 SynthesisVR locations and is being made free for all current SynthesisVR operators. The XR Immersive Team is proud to continue to improve and optimize the business opportunities and services for our extended operator network, with more exciting news coming from SynthesisVR in the near future.

For more specific and technical information, read our in-depth explanation of the history of VR streaming: here

On behalf of the Board of Directors

Tim Bieber, Director and Chief Executive Officer
XR Immersive Tech Inc. (formerly Fantasy 360 Technologies Inc. d/b/a Immersive Tech)
https://www.immersivetech.co/

For further information about Immersive Tech, please contact:

Contact - Tim Bieber
Email: investors@immersivetech.co
Telephone: +1-604-283-3029

CAUTIONARY DISCLAIMERS

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

ABOUT XR IMMERSIVE TECH INC.

Immersive Tech (formerly Fantasy 360 Technologies Inc.) is building the industry's premier location-based Metaverse Platform. Since 2016 the Company has been an industry leader in Social Entertainment, Virtual Reality (VR) and Augmented Reality (AR) entertainment attractions. With its Hardware Platform UNCONTAINED and its Software Platform Uncontained/OS and its growing network of over 350 VR operators through SynthesisVR, the Company helps its stakeholders build user experiences unmatched in realism, depth and immersion. The Company builds experiences on its platforms for some of the world's largest companies including: Intel, Bayer, Capital One, Scotia Bank, the US Food and Drug Administration, Allegiant Airlines and more.

FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company and SynthesisVR, future performance and future growth, development initiatives, business prospects, synergies and opportunities of Immersive Tech and SynthesisVR and their related subsidiaries, the Company’s expansion initiatives and pursuit of M&A activity, and other factors beyond the Company’s control.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to, the Company being able to capitalize on the services and business of SynthesisVR, the easing of world-wide COVID restrictions and effect on the LBVR industry, the increase in VR arcades and demand for VR entertainment and educational content, the Company’s and SynthesisVR’s operations and development initiatives, and such other assumptions presented in the Company’s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Immersive Tech disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.