Engage XR shares rise on extended contract, new Metaverse partners

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Shares rose in Engage XR Holdings PLC on Thursday after signing a renewed contract with D'Carrick Co Ltd for three years worth €800,000.

Shares in the Waterford City, Ireland-based virtual communications services provider were 16% higher at 14.50 pence on Thursday in London.

Engage XR first signed a contract with the South Korean digital content firm worth €70,000

over a three-year period in 2019, which allowed D'Carrick to use the Engage platform for a set number of students, as well as resell the platform with 30% of revenue going to Engage XR.

In addition, Engage XR also announced that shareholder HTC and the Virtual Human Interaction Lab at Stanford University, California have been confirmed as launch partners for the group's Metaverse offering known as Engage Link, which is on-track to be launched in the fourth quarter of 2022.

Both partners will use Engage Link to build and design their own MetaWorlds, allowing for the hosting of real business dealings and professional virtual meetings.

‘Engage Link is the first time that our clients will have publicly accessible, always on, persistent locations to advertise their business and services directly to the general public and to potential clients. Clients can build out their own unique MetaVerse for private company use or make it available to the wider world on Engage Link or via their own website using our deep links system,’ said Chief Executive Officer David Whelan.

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