ImagineAR Inc (CSE:IP) (OTCQB:IPNFF) (FRA:GMS1) said it has secured another three-year agreement with Global Sports Initiatives (GSI).
The creator of mobile phone augmented reality (AR) engagement campaigns said the white-label mobile app deal is for a $380,000 guarantee, plus revenue sharing and follows a strategic partnership between the two companies announced in February.
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GSI markets "digital infrastructure as a monetization service" to Sports, Esports, and Leagues throughout the world while also providing “the future of fan engagement” to athletes, teams, leagues, and sponsors.
“GSI is expanding globally and further strengthening our relationship with ImagineAR. We will be leveraging our own branded App as a hybrid AR social and streaming media platform for fan engagement with teams and athletes that launch channels within to drive new revenue opportunities while they maintain their own data. Additionally, we will be working with Oasis Digital Agency to deliver exclusive AR Enhanced [non-fungible token’s] for our clients as one of those new revenue opportunities, which provides that platform to monetize this new digital collectible all in one place,” GSI chief executive Kevin Meredith said in a statement.
"Our strategic partnership with GSI has developed quickly and has generated over $750,000 within 30 days plus future revenue sharing for ImagineAR. Kevin and his team at GSI have significant global relationships in the sports world and have implemented a strategy to become a leader in delivering content monetization solutions for sports teams, franchises, and venues," said Alen Paul Silverrstieen, Imagine AR’s president and CEO.
"With this executed three-year agreement, ImagineAR has exceeded $1 million total bookings for calendar year 2021 within 90 days of the start of the year. We are optimistic we will drive many new revenue opportunities this calendar year. The NFT market opportunities for GSI will be delivered by our Oasis Digital Agency, which we partnered with Liquid Avatar," he added.
ImagineAR also said over the last 60 days, it has received around $1.54 million of warrant exercises, while Silverrstieen said the company is “fully cashed up and will not require any further financing for 2021”.
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