Virtual reality (VR) content producer Vividthree Holdings entered a joint venture agreement with British video-game company Slightly Mad Studios to develop a VR arcade game based on the Project Cars 2 game engine, it said in a filing to SGX on Thursday.
“This will be Vividthree’s first foray into a VR arcade experience development with a renowned game company,” Vividthree Managing Director Charles Yeo said in the statement. “We are excited to be in this partnership with SMS, furthering our strategy to build on our
content production segment.”
Vividthree Productions, a wholly owned subsidiary of Vividthree Holdings, signed a memorandum of understanding with Slightly Mad Studios earlier this week, after UOB and Hong Leong Finance played matchmaker to the deal, it said.
Under the deal, Vividthree and SMS plan several initiatives, including using the game engine for SMS’s Project Cars 2 motorsport racing simulation game released in 2017, it said.
“Project CARS 2 continues to be the option for the world’s best Esports drivers and teams while offering a broad spectrum of motorsport racing for all levels of drivers,” the statement said. “Esports racing series featuring Project CARS 2 have been announced from New
Zealand to the U.K. and feature partnerships from major automotive partners to racing-specific brands.”
Vividthree is a virtual reality, visual effects and computer-generated imagery studio which develops digital intellectual property assets, including thematic tour shows, such as its recently announced Train to Busan exhibit, it said.