ImagineAR Inc. (CSE:IP, OTCQB:IPNFF) announced a revenue-sharing agreement with Oasis Digital Studios, a wholly owned subsidiary of global blockchain and fintech solutions company Liquid Avatar Technologies Inc.
Under the terms of the agreement, ImagineAR said Oasis Digital Studios will have full access to a white label version of the ImagineAR mobile app creation platform and the parties have agreed to a three-year 50-50 revenue split with all revenues generated from services and programs related directly to the use of the ImagineAR software.
ImagineAR noted the scale of the potential revenue is not estimated at this time and is based on the market and customer uptake of the white label offering.
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"ImagineAR is excited to launch our new partnership starting with the Oasis mobile app which includes all our platform functions including visual/GPS activations, Sweepstakes, Reward Cards, Scavenger Hunts and Social Media integration," said ImagineAR CEO Alen Paul Silverrstieen in a statement.
David Lucatch, Oasis’ managing director, added: "As the metaverse expands, we look forward to partnering with ImagineAR to deliver immersive AR activations for Oasis projects, our clients and potentially Aftermath Islands. When ImagineAR launches their new self-publishing WebAR platform in 2022, Oasis will leverage this new product to bring consumers and organizations into a seamless Augmented Reality experience thru mobile devices."
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