D’Carrick, alongside its partner firm FIX GAMES, develops programmes for the South Korean education sector, which has been voted as the world’s best schooling system for the last four years in a row.
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Under the commercial agreement, D’Carrick will roll out VRE’s ENGAGE platform to a set number of South Korean students and pay the firm €70,000 in fees per annum over three years.
Additional fees will be paid should the number of students exceed the initial total, with VRE also receiving 30% of revenues from any reselling of the ENGAGE platform.
"In today's digital era, modern students are moving rapidly towards online learning and we have been delighted by the interest in our ENGAGE platform”, said David Whelan, VRE’s chief executive.
He added that the deal was “a welcome first step” into the Asian market.
ENGAGE is a VR platform that allows education and corporate users to create virtual ‘rooms’ that can be used for lessons, presentations and meetings without participants needing to be in the same location.
The platform also allows the use of virtual objects and environments to help visualise content.
In mid-morning trading on Tuesday, VRE's shares were 2.8% lower at 8.8p.
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