EVR Holdings (EVRH), a virtual reality content creator, announced that its MelodyVR subsidiary amended its distribution agreement with Facebook Technologies.
The agreement stipulates the release of a new version of the MelodyVR music platform with updated features and functionality to be used on the much-anticipated Oculus Device.
As per the agreement, the company is to receive a financial contribution to compensate for the costs of production and development.
Shares in EVR holdings were up 10% following the news
The new version of the MelodyVR platform will have new and existing content, and have a similar look and feel to the current version. After the launch, the product may be made available on other platforms in addition to Oculus Go and Samsung Gear VR.
Anthony Matchett, CEO of EVR Holdings, said: "As VR technology continues to rapidly develop, we're excited to add new features and functionality to the MelodyVR platform and for Oculus to release new hardware, which will no-doubt lead to increased user adoption of VR devices.”
“We look forward to working with Oculus throughout 2019 and appreciate their partnership and support to-date."
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