Sunday November 13, 2016

IMAX Raises $50 Million To Fund Creation Of VR Experiences

The company is partnering with Acer and likeminded businesses for money that will go toward building VR experiences. It sounds like they already got the upcoming StarVR-powered IMAX VR centers covered, so the cash will largely be used to help out game developers and filmmakers who want to delve into epic VR productions.

"With VR in its ascendancy, this initiative is a key step in ensuring that more high-quality content makes its way to various VR platforms, including IMAX VR centers," added IMAX chief business development officer Robert D. Lister in a press release announcing the fund. The money will go toward partnerships with video game publishers and filmmakers alike to finance the creation of high quality, premium event style productions. This push for new VR experiences is in part related to the StarVR-powered IMAX VR centers the company plans to open this year, but the company said it plans to release the content across all VR platforms.