Since its release on July 6, 2016, Pokémon GO, the free-to-play location-based augmented reality mobile game from Niantic, has taken the world by storm. Within days, the game became one of the most widely used smart device apps in history, with far-reaching effects spanning into the financial sector. Nintendo (OTC: NTDOY) saw its stock price nearly doubling before closing at its highest level since 2010 last Friday, while Zagg, Inc. (NASDAQ: ZAGG) benefitted from its recent acquisition of a smartphone battery case manufacturer on its way to a 27 percent jump in stock price in just over a week. One feature of Pokémon GO that’s played a key role in its commercial success is its underlying Unity3D platform. This is the same technology used by eXp World Holdings, Inc. (OTCQB: EXPI) to power its immersive 3D Campus for eXp Realty and related ventures.
Unlike Pokémon GO, EXPI has successfully leveraged the Unity3D virtual reality platform for business purposes. Through eXp Realty, the company uses the technology to offer an immersive 3D environment to its brokers and agents that takes the place of traditional infrastructure without negatively impacting the training and interpersonal interaction that’s necessary for real estate professionals to effectively operate in the industry. In line with the development of this platform, EXPI recently announced entry into an agreement with VirBELA, LLC, one of the leading developers leveraging Unity3D to create immersive online worlds, through which it gained exclusive rights to the VirBELA platform within the real estate industry, as well as an option for exclusive rights covering a number of vertical industries such as mortgage origination, mortgage lending, title and escrow and title insurance.
“When we discovered immersive worlds to use in business we knew we had something and since then we have run the real estate brokerage almost entirely via a virtual world platform,” Glenn Sanford, chief executive officer of EXPI, stated in this morning’s news release. “Our staff, management, agents and brokers have fully embraced avatars for work, attend classes, strategize, collaborate, innovate, enjoy water-cooler chats, build teams, and share experiences. The close-knit community that we’ve been able to build over the years on our campus has distinguished us from ‘virtual’ brokerage models.”
Despite its similarities to Pokémon GO, EXPI’s Agent-Owned Cloud Brokerage™ is a major force in the real estate industry. Since 2013, when the company committed to making its agents and brokers the owners of its publicly-traded stock, eXp Realty has expanded its agent base to include more than 1,400 agents across 43 states; Alberta, Canada; and the District of Columbia. Though consumers may never see EXPI’s innovative cloud campus, the company’s agents visit on a daily basis to remain up-to-day on the best ways to optimize the level of service they can offer to clients.
“We’re different from Pokémon GO in that we use our Unity-powered platform for business, working on behalf of consumers engaged in what is often the most significant transaction of their lifetimes — the purchase and/or sale of a home,” added Jason Gesing, CEO of eXp Realty. “However, the power of augmented and virtual reality platforms like Unity will allow us to continue to build a culture of service, of entrepreneurship and of a shared sense of ownership, allowing our agents to develop meaningful personal and professional relationships with their colleagues from across North America.”
For more information, visit the company’s website at http://investors.exprealty.com
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