IMAX has completed the first phase of a $50 million virtual reality fund to help finance the creation of interactive VR content experiences over the next three years.
IMAX is making the investment with strategic investors including Acer, CAA, China Media Capital, Enlight Media, The Raine Group, Studio City and WPP.
IMAX and its partners will use the funds to aid in the creation of high quality VR content targeting premium event-style productions with its Hollywood studio and filmmaker partners, as well as gaming publishers and other leading content developers.
"We will be leveraging our collective relationships with world-class filmmakers and content creators to fund VR experiences that excite and attract a larger user base to capitalize on opportunities across all VR platforms including IMAX VR,” said IMAX Corp CEO Richard L. Gelfond.
The announcement is also related to IMAX's efforts to provide its upcoming IMAX VR centres an ongoing array of premium interactive content experiences that let users see, feel, move and play in new worlds in a powerfully immersive and realistic way.