Farmingdale, NY – March 14, 2018 – Cemtrex Inc. (Nasdaq: CETX, CETXP, CETXW), a world leading technology and manufacturing company, today announced that it plans to release an original content virtual reality (VR) gaming experience entitled, Ultra85. This game is being developed in-house by the Company’s recently formed Cemtrex VR team (www.cemtrexvr.com) for Steam VR and Oculus.
Designed and developed as a VR-only experience from the ground up, Ultra85 blends classic arcade mechanics with immersive physics-based sword combat. Inspired by the action flicks and 8-bit games of the 80s – Ultra85 explores the experimental overlap between the traditional comic book format and interactive gameplay.
CemtrexVR’s team in NYC is currently working through core game mechanics and story development for the first chapter of Ultra85, which is slated to release in early access on Steam and the Oculus Store in June.
The VR Gaming market in 2016 was estimated at $3.6 Billion and is expected to reach $22 billion by 2020, according to market research from Statista. Adoption is expected to pick up particularly with the upcoming release of Oculus Go this spring and from recent announcements from Google and Magic Leap.
Cemtrex’s Chairman and CEO, Saagar Govil commented, “The virtual reality gaming industry is slated to explode similarly to how the mobile app industry did after the iPhone was released. With rapid innovation in headsets taking place every day we anticipate that VR adoption will continue to exceed expectations. Our strategy is to position Cemtrex in multiple verticals within virtual reality markets to leverage the rapid growth in the industry with our competencies in software development. We will continue to explore opportunities to develop original content, collaborative experiential applications, and games as we aim to create new high growth revenue streams for our Company.”
Cemtrex plans to release an early access version of the product this June 2018. To ensure you get access to this release sign up at www.cemtrexvr.com to get the latest updates from the Company.
Cemtrex, Inc. (NASDAQ:CETX) is a world leading multi-industry company that provides a wide array of solutions to meet today’s technology challenges. Cemtrex provides manufacturing services of advanced custom engineered electronics, extensive industrial services, integrated hardware and software solutions, monitoring instruments for industrial processes and environmental compliance, and systems for controlling particulates and other regulated pollutants. The Company also develops its own proprietary IoT and wearable devices.
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
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