MVR, a virtual reality system developer that is seeking to turn existing console and PC games into tether free virtual reality, is seeking to raise £500,000 on equity crowdfunding platform Crowdcube. The company’s device, Ascend, reportedly been designed to give game developers an easy and cheap way to add a virtual reality mode to future games in production:
“We believe this is truly disruptive because we are inhabiting the middle market between the two tier fragmented VR world we are currently faced with. On one side of the VR spectrum you have the low end – cheap plastic versions of Google Cardboard that can only play smartphone apps. On the other hand you have immersive but expensive wired systems that lack quality AAA games (Games with highest development budget and levels of promotion).”
MVR also stated its goal is to come into the less congested middle through a “two pronged attack” to enter the virtual world by doing the following:
- Developing a patent granted and pending VR system that creates an affordable tether free gaming solution with known games from day one – refer to the IP section of legal review for details.
- Creating a system which gives games developers the opportunity to design a VR mode for existing games in a cheap and easy manner without the need to create new VR studios or divert resources
The company also reported that since its team has filed patents and have created a working prototype. It has demonstrated the system adapted to popular game titles, including Grand Theft Auto 5, Call of Duty Block Ops 3, and Mirros Edge.
Funds from the Crowdcube campaign will be used for bringing designers and engineers in house, engaging manufacturers and set tooling. It will also support eight months of runway. The initiative is set to close late August.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!