/home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
">
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

Warning: Attempt to read property "cat_name" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

What’s Next For VR?

Published

5 years ago

May 30, 2019

Reading Time: 3 minutes

Once the promised Shangri-La for the future of gaming, VR’s opening salvo into the market wound up being less of a revolution than it was hyped up to be. However, the new medium has persevered nonetheless, and there are some signs that the future of VR might at least approach something resembling what we were once promised.

With that in mind, let’s take a look at some of the most notable developments in the VR space, and what they could be leading to.

Less Complex Setups

One of the biggest problems that VR faced at its launch was the sheer amount of tech setup needed in order to make it work properly. The HTC Vive, one of the most promising early systems, required a bulky headset, a set of heavy wires directly connected to a user’s computer, two handhelds, wand-like controllers, a pair of tall sensor towers, and a completely open space that the two sensor towers could “box off.” It practically required its own room in order to be functional, and very few people have the time, money, or perseverance to dedicate so much to a game console – even one in VR.

In the near future though, many companies are looking to cut this amount of required setup and equipment down significantly. Most commonly, this effort is taking the form of headset-only VR – headsets (or helmets, in some cases) that have all of the required tech for VR games packaged in, eliminating the need for thick cables or boundary poles. Of course, some games will still require controllers, and you’ll still need a somewhat open space if you don’t want to injure yourself while playing, but for the most part, things look to be much simpler. For now, the technology is still largely in development, but it’s definitely on the way, and early examples are promising.

Virtual Worlds

One of the strongest titles for the VR platform has been one that’s rather simple at first glance, but deceptively complex when looked into further. VRChat released a little while after the initial VR launch boom, has a simple concept: let players interact and talk with each other in a virtual world, using avatars of their choosing.

The complexity comes in in the form of player-created content, which makes up the majority of what’s playable in VRChat. The vast majority of the game’s worlds are created by the players themselves, and player avatars, too, are original creations. The infinite possibilities of creation in the VRChat space has led to its easily having one of the most dedicated fanbases of any VR title. Even celebrities have joined in on the fun, with some of the cast of the ever-popular Mythbusters show having gone as far as to host a live contest in VR!

With that in mind though, it seems like a no-brainer that others would try to emulate the VRChat formula. So far attempts like AltSpaceVR hasn’t been quite as impressive, but there are still endless possibilities to consider. The casino space is one that could make a great deal of sense here. Right now, digital casinos from developers in New Zealand and the UK make up much for the market and are best known for providing intriguing welcome bonuses and hosting a wide variety of games. But they are also almost subtly innovative platforms, consistently embracing new tech and making games more immersive. There’s a clear path to the next iteration of these online casinos being an open, social virtual casino in VR. Meanwhile, there’s also the pop culture side of things to consider. There are countless worlds and settings people would love to simply hang out and socialize in: VR Hogwarts, VR Pandora… Any of these could make for incredible social spaces.

Support From The Big Three

In addition to more convenient equipment and more opportunities for social worlds, VR may benefit most from support from the “Big Three” of gaming: Nintendo, Sony, and Microsoft. These three companies can often determine together which concepts live and which concepts die. It’s a point in VR’s favor, then, that each of them has thrown its hat into the ring in order to push VR forward – even if these early forays have been somewhat timid.

Sony has had its own headset, PSVR, for a while now, and still has plenty of studios dedicating their time and development efforts toward new titles for it. Microsoft, always looking to the future, has implemented support for numerous VR headsets into its current and upcoming consoles. Even Nintendo, usually slow to new developments in the market, has its own oddball take on VR in the form of its cardboard Labo VR Kit. Altogether there’s at least some promise that these ever-influential companies will wind up having a big say in VR’s future.

Whether or not any of these developments can ultimately propel VR to the level so many of us expected or wanted to see it at is an open question though. There’s clearly a wonderful version of VR’s future, though a lot of things still have to go right for it to come to fruition.

Cannabis

Cannabis Concentrate Market to Cross US$2.4 Billion by 2030 amid Rising Medical and Recreational Demand

Published

20 hours ago

April 18, 2024

GlobeNewswire

transfer

IMC to transfer its Oranim Pharmacy shares back to the seller

Published

3 days ago

April 16, 2024

CISION (PR Newswire)

imc-to-transfer-its-oranim-pharmacy-shares-back-to-the-seller

TORONTO and GLIL YAM, Israel, April 16, 2024 /PRNewswire/ — IM Cannabis Corp. (CSE: IMCC) (NASDAQ: IMCC) (the “Company” or “IMC“), a leading medical cannabis company with operations in Israel and Germany, is announcing that, further to the news release dated January 12, 2024, the Company has decided not to make remaining installment payments installments (i.e. NIS 5,873K including interest or 2,154K CAD) by IMC Holdings Ltd., and as such will transfer the 51% shares held by IMC Holdings Ltd back to the seller.

“With the April 1^st cannabis legalization in Germany, we are focusing our resources on the German market, where we expect to see the biggest growth potential,” said Oren Shuster, CEO of IMC. “With both of our core markets, Germany and Israel, currently undergoing rapid evolution, we need to assure that we allocate our resources to the growth opportunities where we expect the best return on investment.”

About IM Cannabis Corp.

IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has recently exited operations in Canada to pivot its focus and resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.

The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC’s products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients. Until recently, the Company also actively operated in Canada through Trichome Financial Corp and its wholly owned subsidiaries, where it cultivated, processed, packaged, and sold premium and ultra-premium cannabis at its own facilities under the WAGNERS and Highland Grow brands for the adult-use market in Canada. The Company has exited operations in Canada and considers these operations discontinued.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and U.S. securities laws (collectively, “forward-looking statements”). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, the occurrence of growth opportunities and the likelihood of growth potential.

Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the development and introduction of new products; continuing demand for medical and adult-use recreational cannabis in the markets in which the Company operates; the Company’s ability to reach patients through both e-commerce and brick and mortar retail operations; the Company’s ability to maintain and renew or obtain required licenses; the effectiveness of its products for medical cannabis patients and recreational consumers; and the Company’s ability to market its brands and services successfully to its anticipated customers and medical cannabis patients.

The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward looking statements due to a number of factors and risks. These include: any failure of the Company to maintain “de facto” control over Focus Medical in accordance with IFRS 10; the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the effect of the reform on the Company; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and Focus Medical (collectively, the “Group”) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt and war, conflict and civil unrest in Eastern Europe and the Middle East

Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made.

The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contacts:

Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]

Oren Shuster, Chief Executive Officer
IM Cannabis Corp.
[email protected]

Logo – https://mma.prnewswire.com/media/1742228/IM_Cannabis_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/imc-to-transfer-its-oranim-pharmacy-shares-back-to-the-seller-302117984.html