The world-first Veeso facial tracking Virtual Reality ("VR") technology is the final building block put in place for Go Green Holdings' VR media platforms to empower these platforms' "VR social networking" marketing strategy. VR social networking is continuing to gain popularity rapidly, but powered by the Veeso technology, VR social networking will finally come to life, delivering substantial branding value and hence much expected revenue to Go Green Holdings products from "Judith" brand of table grapes, to Dream Factory VR, to The Perfect Match TV series, and of course to the Veeso VR headset which will be the most advanced VR headset in the world upon its commercial launch by year end 2016.
We are delighted that Be & Become Inc is able to recognize the leveraging value of partnering with Go Green Holdings in the Greater China market.
Go Green Holdings and Be & Become Inc today announced a strategic partnership and the execution of a shareholder agreement to establish a jointly owned company that will own all the Intellectual Property rights to Be & Become's Virtual Reality Head Mounted Display headset ("Veeso VR HMD") with built-in Veeso facial tracking technology for the Greater China market including Mainland China, Taiwan, Hong Kong and Macau. Be & Become will own 51% of this company with Go Green Holdings owning 49%.
Go Green Holdings operates a brand creation and marketing business with its head office in Yunnan Province of China. Go Green Holdings has a number of media properties including a planned TV series and a VR department store Dream Factory VR to be launched. These media properties will be mobilized to market the Veeso VR HMD upon its commercial launch targeted for year-end 2016. Being the first-to-market VR HMD with built-in facial tracking technology provides the partnership with first mover advantage.
The Veeso headset allows users to 'emote' through their virtual avatar bringing to life the avatars in the VR environment that no other brand of headset can. Veeso uses infra-red cameras to track eyes, eyebrows, mouth and the jaw. These movements are then recreated in real time in a digital VR avatar. The headset works with any smartphone just like Google Cardboard.
Starting this year with the commercial release of the Facebook Oculus Rift, HTC Vive and Samsung Gear VR, VR headset sales are projected to grow exponentially. Tractica, a firm that specializes in technology market research, forecasts a total of 15.9 million VR headsets to be shipped in 2016 rising to over 200 million VR headsets to be sold by 2020.
Says Richard Li, Chairman and Chief Executive Officer of Go Green Holdings: "Capitalizing on our first-mover advantage, it is our mission to position the Veeso VR HMD headset as one of the leading VR headsets to be sold in Greater China within the first 24 months. Our initial focus will be to capture a reasonable share of the China VR headset market. China has the largest pool of smartphone users in the world, over 600 million. Our media properties will help spread the Veeso product message quickly throughout China to her VR consumers."
Added Joseph D'Anna, CEO and co-founder of Be & Become: "We will optimize our vision for the Veeso technology, creating the most emotive experience for VR consumers. When we decided to bring that special interaction that occurs between people and bring it into virtual reality, we realized the technology is not there. With Veeso, the technology recreates the facial expressions we use to communicate our emotions in the real world while interacting in the digital world.
The viral power of social networking is well understood, such as the power of Facebook and likewise, that of Tencent's WeChat. In the VR world, again social networking will be the primary driver of VR success stories. Veeso technology is what will empower and bring to life VR social networking.
China is projected to be the largest and fastest growing VR market in the world. While the global market in VR is expected to generate US$30 billion in revenue by 2020, China alone is projected to account for 1/3 of that revenue. We will launch the Veeso headsets firstly in China. We are delighted to partner with Go Green Holdings, taking advantage of their media platforms to reach the mass VR consumer market of China."
About Go Green Holdings Ltd
Go Green Holdings Ltd operates a brand creation and marketing business with its head office in Jianshui County, Yunnan Province of China. Go Green Holdings' management and major shareholders have developed many trusted relationships in China over decades of directly operating businesses there. Their equally strong experience in Western businesses, and in particular in disruptive new media, not only enables Go Green Holdings to be a valuable conduit between Western and Chinese businesses and governments, but to spot and profit from valuable business opportunities emerging in China as she transforms from being a factory to the world to being a strong consumer led and service based economy. China's Central Government is supporting private enterprises with unprecedented amount of capital so she can overtake the West in innovations and technologies including in Virtual Reality /Augmented Reality. Go Green Holdings has seized upon this fundamental shift in the Chinese economy to create synergistic businesses in Vir tual Reality.
About Be & Become Inc
Developer and owner of the Veeso VR HMD technology, BE AND BECOME has been dedicated to the idea that the sublimation of technology lies in its social potential.
Founded in 2010, with its headquarters in New York, BE AND BECOME Inc.'s proprietary technologies have been constructed to offer unique interactive solutions for people to interact with each other, in real time at any distance; as well as providing a new means for millions of fans to come together in virtual arenas and theatres, to communicate with each other through VR, and experience concerts, movies, gaming and music in an entirely new way.
About GoConnect Limited
GoConnect Limited (ASX:GCN) is a global media communications company, based in Melbourne, Australia. Established since August 1999, GoConnect is a forward thinking organisation, which core business is the online delivery of interactive audio/video content through its unique and proprietary technologies.
In 2000, GoConnect pioneered the delivery of video on the Internet through its own patented video delivery technology GoTrek and the GoTrek derivative for the mobile phone, m-Vision in 2003.