BOTS, a global technology conglomerate specialized in Blockchain-based solutions that plans to launch a proprietary Metaverse based on Las Vegas, announced Monday a strategic investment in XR Casino, a technology company specialized in Extended Reality (XR) cross-technology casino gaming, XR game development solutions, and NFTs for the iGaming and sports betting industries.
XR Casino's patent-pending platform is currently in development and plans to leverage AI, Blockchain, Augmented Reality (AR), Mixed Reality, and Virtual Reality (VR) technologies to provide new gaming experiences and value-added services. It completed the MVP versions of its initial games, Blackjack, Roulette, and Slot Machine in AR, MR, and VR, during 2021, and is on track to launch its social casino games and NFT store in Q2, 2022.
BOTS is the first corporate investor in XR Casino and will be leveraging its technology to launch AR, MR, and VR casinos and casino games-as-a-service (GaaS) on its upcoming Metaverse based on the terrestrial Las Vegas. Both firms are based in San Juan, Puerto Rico.
"XR Casino's proprietary technology and games deliver the immersive casino gaming experiences of the Metaverse to anyone with an AR-enabled smartphone, AR/MR glasses or VR headset," Simon Rubin, CEO of BOTS, said in a press release. "We believe AR will lead the way in connecting people to the Metaverse and through our strategic investment in XR Casino we will be able to bring together players using AR, MR, and VR in our upcoming Vegas.mv Metaverse, regardless of the technology or equipment they are using."
"We are excited to have BOTS, Inc. as our first strategic corporate investor and look forward to launching our games on their Las Vegas-themed Metaverse," commented Dan Martinez, Founder and CEO of XR Casino, Inc.
A report issued in April 2021 from Brandessence Market Research claimed the global VR gaming market would be worth almost $52.7 billion by 2025.
In addition, recent research by Mordor Intelligence indicated that the extended reality (XR) Market is registering a healthy CAGR of over 62.67% during the forecast period (2021 - 2026). The extended reality (XR) market is being impacted by COVID-19, primarily due to multiple factors that include physical lockdowns, essential e-commerce delivery limitations, brick-and-mortar retail closures, and supply chain disruptions (supplier, manufacturer, distribution, wholesale, retail), and economic impacts.
Extended reality is currently an emerging umbrella term that encompasses immersive technologies, such as augmented reality, virtual reality, mixed reality, and other future realities such technologies might bring. The increasing demand for reducing the distance between people and richer visual content is driving market demand. According to a recent survey by Accenture, 80% of the business executives believed that it is essential to leverage XR solutions to bridge physical distance during employee engagement.