Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc. has announced a new relationship with REVELXP, which delivers best-in-class fan engagement across collegiate athletics and professional sports.
Under the signed deal, Fobi said it will receive an initial setup fee for each event, together with licensing revenue for each Wallet pass distributed to fans.
REVELXP in turn will utilize Fobi’s Wallet pass technology to provide fans with a digital ticket for the company’s premium hospitality events deploying with select NCAA Division 1 Football Power 5 schools.
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Fobi said its platform will enable fans to easily navigate to their tailgate, access a field pass, participate in an exclusive meet-and-greet or unlock merchandise discounts. An embedded messaging function will also enable the REVELXP staff to communicate with fans for schedule or location changes, as well as in the event of inclement weather.
“We are constantly seeking advanced solutions to make our premium hospitality experiences even more seamless for our fans,” said REVELXP CEO Ray DeWeese in a statement. “Fobi’s platform makes it easier for fans who purchase a tailgate or other experience to share event details with their guests and minimizes any logistical questions that often arise on a busy game day. We are excited to immediately make the technology available to fans this season.”
According to a recent report from Statista, Fobi pointed out, the Sports Event market is projected to reach US$6.5 billion in 2021, with just under half of that -- US$2.9 billion -- generated in the US. The US market is forecasted to grow to US$32 billion in 2025. And with venues continuing to welcome back fans, the largest increase will happen in 2022 with an astonishing growth rate of 331%.
“Fobi enables venue operators to provide their guests with a more personalized digital experience,” said Fobi CEO Rob Anson. “The relationship with REVELXP will provide Fobi with a great opportunity to showcase our technology with one of the premier organizations in collegiate and professional sports.”
REVELXP is focused on working with college athletic departments and professional teams to maximize fan engagement, identify new revenue streams, and successfully welcome back fans in today’s post-pandemic environment. The company’s services span design and custom-builds, seating solutions, equipment needs, ticketing services, turnkey tailgates, event staffing, and more.
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