U.S. Patent Office Grants New Patent Claims for Versus Systems' Streaming Media Rewards Platform

Rhea-AI Summary

On July 26, 2022, Versus Systems Inc. (NASDAQ: VS) announced that the U.S. Patent and Trademark Office granted U.S. Patent No. 11,376,498, covering innovative methods for managing in-content challenges in multiplayer games. This patent protects various methods for providing rewards based on player performance and eligibility criteria. The technology aims to enhance audience engagement during live events and streaming media. Versus continues to expand its patent portfolio, focusing on interactive prizing and rewards in media.

Positive

• Granting of U.S. Patent No. 11,376,498 enhances Versus' competitive position in the interactive gaming and streaming sectors.
• The patented technology could significantly increase engagement during live sports and other media.
• Versus plans to implement these technologies in major sporting events and OTT platforms, potentially boosting user participation.

Negative

• None.

LOS ANGELES, July 26, 2022 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (NASDAQ: VS) announces that, pursuant to a Versus filing made in 2019, the U.S. Patent and Trademark Office (USPTO) has now allowed 20 new claims associated with a new patent titled "MANAGING IN-CONTENT CHALLENGES FOR MULTI-PLAYER GAMES." The USPTO has now issued U.S. Patent No. 11,376,498 to Versus to cover games and challenges that produce real world rewards inside of apps and streaming media.

Versus’ new patented claims protect several methods for managing first and second-screen games inside of apps, television broadcasts, and streaming media, with a focus on how to provide different digital and physical prizes to different players based on their performance in the games and eligibility criteria such as age and location. This IP could allow content creators and distributors new ways to help audiences earn rewards while watching and interacting with their favorite shows, including live sports, game-streams, and reality TV. This technology has the potential to dramatically increase the potential number of participants in sweepstakes, tournaments, and rewards-based competitions. Versus will be using its patented technologies in-venue, at NFL, NHL, NBA, NCAA, and other sporting events and, beginning in Q4 of this year, in Over-The-Top (OTT) television and streaming media.

Versus’ growing patent portfolio now includes multiple granted US and international patents, with dozens of claims around the management of prizing in games, dynamic regulatory compliance, single and multiplayer prizing, competitive balance, and rewards in streaming media.

In addition to these new claims granted by the USPTO and their other issued patents, Versus continues to actively develop and file patent claims for new technologies focused on prizing and rewards inside interactive media, securing intellectual property protection accordingly, both in the United States and other Patent Cooperation Treaty countries.

“Versus is very proud of its growing patent portfolio around in-game rewards. We are creating innovative, unique technologies for both content creators and audiences,” said Matthew Pierce, Founder and CEO of Versus Systems. “The streaming media landscape is changing so fast - from Disney to Amazon to Discovery to the evolving college football landscape, fans should expect a better experience than traditional TV commercials. Content, even branded, sponsored, and ad-supported content, should be more personal, more contextual, and more rewarding. Audiences should be able to earn rewards and prizes that they care about while watching their favorite content. These patents help with that. Our whole portfolio does. We want to make things more fun, and we’re eager to use this patented technology to do that.”

About Versus Systems

Versus Systems Inc. is an engagement and rewards company that makes all content, from live events, to games, shows, and apps more fun to watch and play. Versus adds interactive elements: polling, trivia, predictive, and casual games, to existing entertainment - whether in-venue or online - making the content more contextual, personal, and rewarding. Versus works with world class sports teams, leagues, venues, entertainment companies, and other content creators to make engaging, rewarding experiences for fans all over the world. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.

Disclaimer for Forward-Looking Information 
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward looking statements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable law. 

Investor Contact:
Cody Slach and Sophie Pearson
Gateway Investor Relations
949-574-3860
IR@versussystems.com
or
press@versussystems.com

FAQ

What is the significance of the new patent granted to Versus Systems on July 26, 2022?

The new patent allows Versus Systems to manage in-content challenges in multiplayer games, enhancing user engagement with real-world rewards.

How does U.S. Patent No. 11,376,498 impact Versus Systems' business strategy?

This patent enables Versus to offer innovative engagement methods for live events and streaming media, potentially increasing user interaction and revenue.

What does Versus Systems’ growing patent portfolio indicate about its market position?

A growing patent portfolio suggests that Versus is focused on developing unique technologies, strengthening its position in the interactive media sector.

How will Versus Systems use its new patent in streaming media?

Versus plans to integrate its patented technology into Over-The-Top (OTT) television and streaming media, enhancing viewer engagement and rewards.