AmazeVR gets another $15M to forge the future of immersive concerts

AmazeVR, a digital reality live performance platform that allows users to enjoy their preferred artists` VR concert events via content material era tools, introduced these days it has secured $15 million, which became oversubscribed inside 3 weeks.

Headquartered in Los Angeles, with an workplace in Seoul, AmazeVR became based via way of means of JB Lee, Steve Lee, Jeremy Nam and Steven Koo, all former executives of South Korean messaging app Kakao. After Kakao`s inventory marketplace debut, the 4 co-founders, who desired to strive once more to construct a organization with international impact, uprooted their lives in Seoul and moved to Silicon Valley to broaden the destiny in VR.

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What you should know about AmazeVR

Lee stated that AmazeVR has been growing VR technology due to the fact that 2015 and pivoted absolutely into VR live shows in past due 2019. The employer believed in the want for a greater immersive track revel in via VR live shows even earlier than the pandemic; however, the track enterprise felt a bit remote and skeptical, in large part from a situation over cannibalization of stay live shows, their maximum moneymaking sales stream, Lee stated.

More recently, the coronavirus pandemic has extended the adoption in the marketplace, permitting AmazeVR to locate product-marketplace suit quickly. As the track enterprise additionally have become greater open-minded approximately new technology, humans started to realise that VR live shows aren’t stay live shows however a brand new class of entertainment, Lee continued.

The track enterprise is due for a paradigm shift, and lots of groups had been seeking to innovate the subsequent huge thing. The pandemic most effective expanded this shift as we`ve visible many endeavors spanning from livestreams to digital concert events to Fortnite shows All of those different answers most effective offer incremental cost from what already exists, and no different answer without a doubt captures the quilt cost for fans — a human connection.

AmazeVR has raised a complete of $30 eight million due to the fact that its inception in 2015 and plans to elevate a Series B in early 2022 to power its speedy growth, the enterprise said. Co-CEO of AmazeVR Ernest Lee instructed. AmazeVR commenced 2021 with 12 employees, however now the enterprise has tripled its crew in Hollywood and Seoul, with 41 employees, Lee noted.

“We`ve been capable of entice pinnacle expertise from the [music, entertainment, tech and gaming] industries we touch,” Lee said. “This places us in a superrole to take complete benefit of VR and the metaverse`s developing popularity, as we supply breathtaking VR concert events from predominant artists, first to theaters, then to houses worldwide.”

In the wake of social media, lovers have extraordinary access to their favourite artists however are nevertheless separated with the aid of using a display screen. VR concert events with the aid of using AmazeVR take the fan throughout the display screen to return back face-to-face with their favourite artists to create a human connection, Lee said. Users could be part of as avatars, grasp out with different users, and revel in VR concert events together.

You actually need to enjoy our VR concert events to get a complete draw close of ways impactful they are. VR can sooner or later blow all 2D enjoy out of the water.

Thanks to our technology, we will evoke a actual experience of presence you can`t get from a screen, the sensation that your favored artist is proper here, head to head with you,” Lee said. “This opens up a brand new measurement for music, one of the first new methods for artists and lovers to attach because recordings appeared. We`re pleased that buyers are grasping this and are helping us as we innovate and grow.