XR Immersive Tech Launches Operator Program for Crypto Mining on Uncontained Platform

Rhea-AI Summary

XR Immersive Tech Inc. has launched a beta program allowing operators of its UNCONTAINED VR Hyper-Immersive™ attractions to utilize Nvidia GeForce RTX 30 Series graphics cards for crypto mining during off-hours. This initiative aims to maximize revenue potential from these attractions and enhance the company's engagement in crypto and blockchain technologies. The program simplifies mining for operators, requiring no prior knowledge, and supports mining various cryptocurrencies including Ethereum and Ravencoin. CEO Tim Bieber emphasized the goal of achieving superior ROI for operators.

Positive

• Launch of beta program to enable crypto mining using installed GPU power.
• Increased potential revenue for operators during off-hours.
• Simplified setup with no prior knowledge needed for operators.
• Support for multiple cryptocurrencies, diversifying revenue streams.

Negative

• None.

Utilizing the high performance power of Nvidia GeForce RTX 30 Series graphics cards installed in the UNCONTAINED VR Hyper-Immersive™ attractions, operators will have the option to enable and allocate these powerful machines for so much more than running VR experiences

VANCOUVER, British Columbia, April 07, 2022 (GLOBE NEWSWIRE) -- XR Immersive Tech Inc. (“Immersive Tech”, or the “Company”) (CSE:VRAR) (FSE:79W) (OTCQB: FNTTF) is pleased to announce their new beta program which will allow operators to harness the GPU power of the high performance workstations within the UNCONTAINED Hyper-Immersive™ VR attractions, dubbed the Physical Portal to the Metaverse, as outlined in the Company’s recent Corporate Update press release. This solution will enable operators to opt into the program and automatically mine while the attraction is not in use and in off-hours. At the core, the collective power of UNCONTAINED installed units will form a highly capable and scalable mining network that is centrally managed by XR Immersive Tech.

Utilizing the high performance power of Nvidia GeForce RTX 30 Series graphics cards installed in the UNCONTAINED VR Hyper-Immersive™ attractions, operators will have the option to enable and allocate these powerful machines for so much more than running VR experiences. Mining in off-hours takes full advantage of the computer horsepower installed within the UNCONTAINED attraction to drive additional revenue opportunities for operators while also driving revenue for the company. Further, it’s a step forward within the company to further its crypto based endeavors, and build out further knowledge and partnerships in blockchain technologies.

Crypto mining enthusiasts agree that the Nvidia GeForce RTX 30 series GPU cards are one of the most efficient, with the highest hash rates for mining on the market. The solution will allow operators to easily opt-in and requires no set up on their end or prior knowledge of crypto mining. XR Immersive Tech’s network management procedure for these mining locations will ensure a simple and reliable protocol for operators to effectively switch between the gaming and mining backend modes or simply automate mining for overnight closed hours.

At its core, the solution Immersive Tech is building will enable the mining of the following coins:

• Etherium (ETH)
• Etherium Classic (ETC)
• Ravencoin (RVN)
• Firo (FIRO)
• Cortex (CTXC)
• Zilliqa (ZIL)
• TonCoin (TON)
• Ergo (ERG)
• Callisto (CLO)
  

In addition to these coins, XR Immersive Tech will review and add new coins based on market assessment.

XR Immersive Tech’s CEO, Tim Bieber, says, “Our goal is to create the best hyper-immersive attraction for consumers with the best ROI in the industry for operators. With the addition of our centralized crypto mining solution operators can now experience even greater revenue generating power from their UNCONTAINED standalone VR attraction taking advantage of off-hours like never before.”

On behalf of the Board of Directors

Tim Bieber, Director and Chief Executive Officer
XR Immersive Tech Inc. (formerly Fantasy 360 Technologies Inc. d/b/a Immersive Tech)
https://www.immersivetech.co/

For further information about Immersive Tech, please contact:

Contact - Tim Bieber
Email: investors@immersivetech.co
Telephone: +1-604-283-3029

CAUTIONARY DISCLAIMERS

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

ABOUT XR IMMERSIVE TECH INC.

Immersive Tech (formerly Fantasy 360 Technologies Inc.) is building the industry’s premier location-based Metaverse Platform. Since 2016 the Company has been an industry leader in Social Entertainment, Virtual Reality (VR) and Augmented Reality (AR) entertainment attractions. With its Hardware Platform UNCONTAINED and its Software Platform Uncontained/OS and its growing network of over 300 VR operators through SynthesisVR, the Company helps its stakeholders build user experiences unmatched in realism, depth and immersion. The Company builds experiences on its platforms for some of the world's largest companies including: Intel, Bayer, Capital One, Scotia Bank, the US Food and Drug Administration, Allegiant Airlines and more.

FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company and SynthesisVR, future performance and future growth, development initiatives, business prospects, synergies and opportunities of Immersive Tech and SynthesisVR and their related subsidiaries, the Company’s expansion initiatives and pursuit of M&A activity, and other factors beyond the Company’s control.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to, the Company being able to capitalize on the services and business of SynthesisVR, the easing of world-wide COVID restrictions and effect on the LBVR industry, the increase in VR arcades and demand for VR entertainment and educational content, the Company’s and SynthesisVR’s operations and development initiatives, and such other assumptions presented in the Company’s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and Immersive Tech disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FAQ

What is the new beta program by XR Immersive Tech?

The new beta program allows operators of UNCONTAINED VR attractions to use Nvidia RTX 30 Series graphics cards for crypto mining during off-hours, enhancing revenue opportunities.

Which cryptocurrencies can be mined through the XR Immersive Tech's program?

Operators can mine cryptocurrencies including Ethereum, Ravencoin, and several others as part of the program.

How does XR Immersive Tech's new program benefit operators?

The program enables operators to generate additional revenue from crypto mining while their attractions are not in use, effectively maximizing their investment.

What are the implications of the new mining solution for FNTTF stockholders?

The introduction of the crypto mining program could enhance revenue generation for XR Immersive Tech, which may positively impact FNTTF stock performance.