ImagineAR Inc (CSE:IP) (OTCMKTS:IPNFF) revealed Wednesday that it has won a five-year $300,000 licensing agreement to provide its augmented reality (AR) platform to custom graphics company SlapItOn for the launch of its new line of interactive products featuring athletes and celebrities.
In addition to the licensing agreement, ImagineAR will earn five-year management program revenue fees which can “significantly” boost annual revenue, the Canadian augmented reality platform company said in a statement.
SlapItOn is owned by an elite group of athletes including founder CEO and National Football League All-Pro Mike Vanderjagt and cofounders National Football League Hall of Famer and All-Pro Troy Aikman, National Hockey League Hall of Famer and All-Star Mike Modano, Major League Baseball All-Star and two-time World Champion Johnny Damon, National Basketball Association All-Star, NBA Champion and Olympic Gold Medalist Steve Smith and National Soccer Hall of Famer and Major League Soccer All-Star Cobi Jones.
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The custom graphics company can take any image and “convert it into an action decal in various sizes” to deck walls, laptops, tablets and smartphones, said ImagineAR.
As a result of the agreement, SlapItOn will be expanding its offering to deliver interactive products integrated as an all-in-one collectible sports card and decals through augmented reality straight into the homes of fans.
"ImagineAR is the most advanced augmented reality mobile platform in the marketplace today. By integrating ImagineAR with hi-tech vinyl decals, we will be launching our new SlapItOn interactive product line featuring social media leaders in sports & entertainment globally,” said Mike Vanderjagt in the statement.
“We are planning to provide a unique platform in today's world for artists and athletes to engage safely and consistently with fans in their homes," he added.
ImagineAR CEO Alen Paul Silverrstieen said the company was “truly excited” to develop a new product category with SlapItOn.
“Working with Mike and his sports legend partners, we are very optimistic that this partnership will grow significantly in the next few years," he added.
Separately, ImagineAR announced the launch of a discussion forum on AGORACOM. In 2019, AGORACOM was the only small-cap marketing firm to hold a Twitter verified badge, averaging 4.2 million Twitter impressions per month. ImagineAR said the forum will serve as the company's “primary” social media platform to interact with shareholders and investors.
The ImagineAR HUB is live and can be found at https://agoracom.com/ir/Imaginear
ImagineAR said it expects to receive “significant exposure” through millions of content brand insertions on the AGORACOM network and search engine marketing over the next 12 months.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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