7th Apr 2022 12:01
(Alliance News) - Engage XR Holdings PLC shares soared on Thursday after it noted partner VictoryXR Inc will launch 10 "metaversities," funded by Meta Platforms Inc.
Shares were trading 56% higher at 15.95 pence each on Thursday in London.
"Metaversities" are an immersive learning experience in the digital replicate of a university's campus.
Watford, Ireland-based Engage XR has partnered with Davenport, Iowa-based virtual reality educational product developer VictoryXR for the launch of the "metaversities" this autumn in the US.
Each campus will be built by VictoryXR on Engage XR's proprietary software platform, it said.
The universities will roll out a digital replicate of its campus for students to attend whether they are on campus or learning remotely.
The partnership was partially funded by Meta Immersive Learning. It is an arm of Meta that is planning to invest USD150 million to fund immersive experiences that "transform" education.
Meta will provide Quest 2 headsets during the project on each campus as well as funding for the digital twin buildout.
Engage XR said that the companies are planning to release three additional "metaversities" in May.
By Abby Amoakuh; [email protected]
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