Combining aspects of AI, AR, VR, social media, online gaming, and other services, the Metaverse is a rapidly-emerging space that adds a third dimension to the internet and makes it accessible in a richer, more seamless way. We believe that the Metaverse is a "blue ocean", with much of the technology to make it possible and engaging yet to be developed. We expect this partnership to be an important step in that direction.
Leveraging the unique core competencies of D-ID and Glimpse, the partnership between the two companies aims to bring a new dimension to the Metaverse. The jointly-developed technologies and products will combine D-ID's highly-realistic AI-powered Creative Reality™ technology with Glimpse Group's advanced VR/AR solutions. Together, they are expected to create experiences for Metaverse users which are more immediate and realistic.
"In our view, the Metaverse is going to change everything, the way humans interact with each other, the way we see the world, and the kinds of possessions we own," said Gil Perry, CEO and Co-founder of D-ID. "From commerce, to entertainment, from dating to healthcare, the success of the Metaverse depends on realistic digital personas in order for people to embrace it as an essential part of their daily lives. They will dance at virtual concerts, enjoy museums with friends, interact with brands, and more if they feel the experiences are truly immersive and the avatars are relatable. Our collaboration with Glimpse will shape and bring life to the Metaverse."
Lyron Bentovim, President and CEO of Glimpse added: "Artificial Intelligence is expected to play a key part in the Metaverse, and combining D-ID's cutting edge technology with Glimpse's immersive VR and AR solutions will allow companies across many industries to preview the direction the Metaverse will take."
The partners are already collaborating on a proof of concept ("PoC"), as an initial test drive of ways their technologies can work together. The PoC is a technology that will enable users to easily animate still photos directly on their device leveraging D-ID's technology and Glimpse subsidiary company PostReality's ( www.postreality.io) solutions.
The Glimpse Group (NASDAQ:VRAR)(FSE:9DR) is a diversified Virtual and Augmented Reality platform company, comprised of multiple VR and AR software and services companies, and designed with the specific purpose of cultivating companies in the emerging VR/AR industry. Glimpse's unique business model simplifies challenges faced by VR/AR companies and creates a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into the emerging VR/AR industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com.
D-ID is a Tel Aviv-based Creative Reality™ startup specializing in patented video reenactment technology using AI and deep learning. Established in 2017, D-ID created the first facial image de-identification solution to protect images and videos from facial recognition software. D-ID's products range from animating still photos, to facilitating high-quality video productions, and creating viral user experiences such as Deep Nostalgia, which has generated nearly 100M animations since its launch in late February. With $23 million in funding from Y Combinator, Pitango, AXA, Foundation VC, Maverick Ventures, AI Alliance, and others, D-ID aims to disrupt the media and entertainment industries with the creation of media using AI in traditional channels as well as the Metaverse. With international customers in the swiftly growing synthetic media market, D-ID's core competencies in the human face and deep learning enable its partners to create exciting and engaging content that was until now unimaginable. To find out more, please visit www.d-id.com.
This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe,", "view," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
The Glimpse Group is a Virtual Reality & Augmented Reality Platform Company Comprised of Multiple Software & Services Subsidiaries Creating Innovative VR/AR Solutions (products, software, and consulting services)