ImagineAR’s Subsidiary FameDays to Develop a 25,000-Square-Foot Immersive Experience Center in Niagara Falls
Vancouver, BC – ImagineAR (IP) (IPNFF) (GMS1), a pioneering Augmented Reality (AR) company, has announced the execution of a Design and Project Installation Agreement by its wholly-owned subsidiary, FameDays. The agreement, worth $10 million, has been signed with Ontario real estate developer, Mr. X, for the development of a 25,000-square-foot immersive experience center in Niagara Falls, Ontario.
FameDays’ Role and Responsibilities
Under the terms of the agreement, FameDays will be responsible for the design, development, installation, and ongoing support of the immersive experience center. The center will incorporate ImagineAR’s AR technology, enabling visitors to engage with interactive and immersive experiences that blend the physical and digital worlds. This collaboration marks a significant step forward for ImagineAR, as it expands its footprint in the rapidly growing AR industry.
Ongoing Support and Revenue Streams
In addition to the initial $10 million investment, FameDays has also signed a Master Services Agreement to provide ongoing on-site and software support. This agreement includes an annual fee and recurring monthly royalties, payable to ImagineAR, once the center opens to the public. With this revenue model, ImagineAR is poised to generate a steady income stream from the Niagara Falls project while maintaining a strong relationship with its clients.
Impact on the Local Community and Economy
The immersive experience center in Niagara Falls is expected to attract a significant number of visitors, providing a boost to the local economy. The center will create new jobs in the AR industry, including designers, developers, and support staff. Furthermore, it will offer a unique and engaging experience for tourists and residents alike, enhancing the reputation of Niagara Falls as a premier tourist destination. The collaboration between ImagineAR and the local real estate developer, Mr. X, underscores the growing trend of AR integration into various industries and sectors.
Global Implications and Future Prospects
Beyond the local impact, the Niagara Falls project highlights the global potential of AR technology. As AR continues to gain traction in industries such as marketing, education, healthcare, and entertainment, the demand for immersive experiences is expected to grow. ImagineAR’s success in Niagara Falls could pave the way for similar projects in other parts of the world, further solidifying the company’s position as a leader in the AR industry.
Conclusion
In conclusion, ImagineAR’s subsidiary, FameDays, has signed a $10 million agreement to develop a 25,000-square-foot immersive experience center in Niagara Falls, Ontario, in collaboration with a local real estate developer. This project represents a significant step forward for ImagineAR, as it expands its footprint in the AR industry and demonstrates the global potential of AR technology. The immersive experience center is expected to generate a steady income stream for ImagineAR while providing a unique and engaging experience for visitors, boosting the local economy, and enhancing Niagara Falls’ reputation as a premier tourist destination.
- ImagineAR’s subsidiary, FameDays, signs $10 million agreement to develop immersive experience center in Niagara Falls
- FameDays responsible for design, development, installation, and ongoing support
- Annual fee and recurring monthly royalties payable to ImagineAR
- Expected to attract a significant number of visitors, creating new jobs
- Global potential of AR technology highlighted by Niagara Falls project
