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Imagine strolling the bustling streets of New York City or the vibrant alleyways of Tokyo—all while being immersed in an amazing XR experience that blends seamlessly with your surroundings.
Psychic VR Lab’s STYLY platform is revolutionizing cities entertainment, blending the physical and digital worlds to create memorable interactive experiences. The company believes that “in the post-epidemic era, what is important is not to ‘replace’ the real space, but to open the virtual space to the city, create a new hybrid lifestyle, and increase the experiential value of the city itself through ‘fusion’.” real and virtual. “
With the recent funding push, Psychic Virtual Reality Labthe Tokyo-based company behind the XR metaverse platform styletaking its innovative vision to new heights and redefining what it means to explore a city.
The company recently managed to raise an additional $3.7 million in funding, bringing its total raised to $19.7 million. This round of financing was participated by J.CVC fund (GP) invested by Front Retailing Co., Ltd., Nippon Steel Kowa Real Estate Co., Ltd., TV Asahi Holdings Co., Ltd., and JR West Japan Innovations Co. , Ltd., Tokyu Fudosan Holdings Co., Ltd., SBI Investment Co., Ltd.
With this funding backing, Psychic VR Lab aims to elevate the global urban entertainment experience through its “Real Metaverse Platform” STYLY, which integrates art, music, video and commercial installations.
“The successful closing of this latest funding round underscores the drive to expand XR into every aspect of life, using immersive technology to make our cities smarter and more adaptive,” Ryohei Watanabe, chief marketing officer at Psychic VR Lab, said in a press release shared with ARPost.
What is Urban XR Entertainment?
Urban XR entertainment utilizes XR technology to transform urban environments into immersive and interactive entertainment media. Using XR technology in urban environments can provide users with a variety of immersive experiences similar to switching channels on TV. By overlaying XR content onto the real world, it is possible to create highly engaging experiences and potentially increase foot traffic in cities.
Psychic VR Lab aims to promote urban XR entertainment through its platform STYLY to enhance the attractiveness of places and revitalize tourism. The idea behind the platform is to create and distribute XR content related to cities around the world, such as Tokyo, Kumamoto, Niigata, New York, and Barcelona.
“Together with Psychic VR Lab, which has a strong desire for ‘real’-based XR entertainment business, we will create countless XR services related to all experiences of entertainment, art, travel, tourism, and business in the real world, including the West Japan region, allowing people to can connect,” Makoto Okuno, president of JR West Innovations Co., Ltd., one of the investors, said.
STYLY Platform: AR and MR Meet Urban Exploration
With the ability to import 3D geographic map data of cities into STYLY, Psychic VR Lab aims to revolutionize the way we experience urban spaces.
“Through this investment and business alliance, we hope to create a space filled with arts and entertainment, provide unprecedented experiences through synergy with the company and its stakeholders, and contribute to enhancing the attractiveness of the city,” said Naotaka Hayashi, Managing Director of J. Front Retailing Co., Ltd.
Urban XR Entertainment’s future impact on industry and society
Urban XR entertainment has the potential to have a profound impact on industries as diverse as travel, retail and real estate.
“Nippon Steel Kowa Real Estate will create new value in real estate together with Psychic, with a view to a future where new ways of living and working that blend reality and virtuality become commonplace,said Yasuhiko Imaizumi, president and CEO of Nippon Steel Kowa Real Estate Co., Ltd., one of the investors in the latest round of funding.
Overall, investors see potential in STYLY and Psychic VR Lab’s vision of creating a real world. Metaverse platform. They aim to create new value and contribute to the growth of the company and the advancement of the industry by combining their expertise and resources with the technology and driving force of Psychic VR Lab.
As Psychic VR Lab continues to expand its urban XR entertainment program, we can expect to see more cities embrace the technology and its benefits. Psychic VR Lab is opening the door to a new era of urban experience, changing the way we interact with and enjoy our surroundings. With their recent funding and ongoing projects, the future of urban entertainment is even more promising and exciting.
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