Good Morning Web 3 - guides and resources for brands and individuals to jump into the next phase of the internet
Oculus Touch

AppSwarm Delves Into VR Sector With Acquisition of Into the VR World

Application-based technology company AppSwarm has acquired e-commerce website Into the VR World.

AppSwarm is a company that’s known to be working on in-house software development platforms and the development of cutting-edge software. With the growth of the virtual reality (VR) and augmented reality (AR) industries it’s not surprising that such a company would begin to show interest in the developing technology of VR/AR, as proved by AppSwam’s acquisition of e-Commerce company Into the VR World.

Into the VR World is an e-commerce company that focuses on delivering VR hardware, with a heavy concentration of smartphone-powered VR systems such as the Samsung Gear VR and Google Daydream. Considering that AppSwarm has begun to develop VR and AR applications, it seems to make sense that the company would also need to look at the hardware side and also methods of distribution and monetisation.

Ronald Brewer, CEO of AppSwarm, Inc., said in a statement: “With our in-house focus heavily on VR and AR we thought it advantageous to acquire a sophisticated and graphics rich eCommerce site. Into the VR World made perfect sense. The data we are collecting and the feedback we are receiving, all point to significant opportunity within all facets of the virtual reality industry.”

As the VR and AR industries continue to grow, with studies showing that worldwide revenues for AR/VR will reach $162 billion by 2020 with more than half of that revenue generated by hardware sales.

AppSwarm is pursuing other company mergers and acquisitions in line with the principals and goals the company is aiming towards. It remains to be seen if any of the other interests will involve VR/AR.

VRFocus will keep you informed on further developments in the VR and AR industry.

Related Posts