The Glimpse Group Launches Enterprise Focused Virtual NFT and Crypto VR & AR Software Product Development Effort

Rhea-AI Summary

The Glimpse Group (NASDAQ:VRAR) announced an initiative to develop VR and AR solutions targeting the Non-Fungible Token (NFT) and Crypto markets. The new software and services include a VR art gallery and an AR NFT display system. DJ Smith, Chief Creative Officer, highlighted the potential of NFTs as digital assets certified by blockchain technology. This move represents Glimpse's commitment to spearhead innovation in the VR/AR sectors and support the growth of NFTs and crypto industries.

Positive

• Launch of VR and AR solutions targeting the NFT and Crypto markets.
• Introduction of high-end multi-user VR art gallery.
• Development of AR-based NFT display systems.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / August 31, 2021 / The Glimpse Group, Inc. (NASDAQ:VRAR) ("Glimpse" or the "Company"), a diversified Virtual Reality and Augmented Reality ("VR" and "AR") platform company providing enterprise-focused VR and AR software & services solutions today announced an internal initiative focused on utilizing the robust technologies, software products and services of its subsidiary companies towards a new Enterprise focused vertical - the emerging Non-Fungible Token ("NFT") and Crypto segments.

As a natural extension of its existing software products, Glimpse is launching VR and AR software and services specifically targeting the Crypto/NFT industry segments, including, a high-end multi-user VR art gallery space, an AR based NFT display system and services for the creation of super high resolution NFT assets.

DJ Smith, Glimpse's Chief Creative Officer commented: "The topic of cryptocurrency has been discussed for several years and, more recently, the closely related concept of NFTs has emerged. NFTs are digital "one of a kind" assets that use the blockchain to certify ownership and could potentially become key assets over time via the utilization of VR and AR technologies. While still in their infancy, Glimpse is excited to support the growth of NFT and Crypto industries with new, and potentially enabling, AR and VR based Enterprise focused visualization tools."

About The Glimpse Group, Inc.

The Glimpse Group (NASDAQ:VRAR) is a diversified Virtual and Augmented Reality platform company, comprised of multiple VR and AR software & services companies, and designed with the specific purpose

of cultivating companies in the emerging VR/AR industry. Glimpse's unique business model simplifies challenges faced by VR/AR companies and creates a robust ecosystem, while simultaneously providing investors an opportunity to invest directly into the emerging VR/AR industry via a diversified platform. For more information on The Glimpse Group, please visit www.theglimpsegroup.com

Safe Harbor Statement

This press release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe,", "view," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Glimpse Contact:
Maydan Rothblum
CFO & COO
The Glimpse Group, Inc.
917-292-2685
maydan@theglimpsegroup.com

Investor Relations:
Mark Schwalenberg, CFA
Director
MZ Group - North America
312-261-6430
Glimpse@mzgroup.us
www.mzgroup.us

SOURCE: The Glimpse Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/661983/The-Glimpse-Group-Launches-Enterprise-Focused-Virtual-NFT-and-Crypto-VR-AR-Software-Product-Development-Effort

FAQ

What is The Glimpse Group's initiative related to NFTs and Crypto?

The Glimpse Group is launching VR and AR software focused on the NFT and Crypto sectors, including a VR art gallery and AR NFT display systems.

What does VRAR stand for in the stock symbol for The Glimpse Group?

VRAR stands for The Glimpse Group, a company specializing in Virtual Reality and Augmented Reality solutions.

What are some new products by The Glimpse Group in the NFT space?

The new products include a multi-user VR art gallery and an AR-based NFT display system.

When did The Glimpse Group announce its NFT-focused initiative?

The Glimpse Group announced its NFT-focused initiative on August 31, 2021.