Virtual reality is quickly becoming mainstream. No longer limited to gamers and early adopters, the VR industry is projected to generate $4.6 billion in revenue in 2017, garner 171 million users by 2018, and become a $35 billion industry by 2025 according to a report by Goldman Sachs. And now, immersive media platform company Matterport has launched CoreVR, making available the world’s largest library of 3D Spaces.
CoreVR allows users to add virtual reality support to any Matterport 3D Space, creating a fast end-to-end system for delivering a VR experience of a real-world place. The option has been enabled for over 250,000 existing Matterport 3D Spaces free of charge. For those 3D Spaces with the free option, CoreVR will remain available for as long as the content is hosted on Matterport. After 2016, content publishers will pay $19 per new 3D space.
“Like any new platform, VR needs content to grow, and with the new CoreVR option, Matterport delivers a huge library of real-world VR content and the most effective and scalable option to allow anyone to create a VR experience of a space,” said Bill Brown, CEO of Matterport. “Matterport is excited to bring this capability to its thousands of camera owners and to millions of consumers visiting Matterport Spaces. We believe in the power of VR to help us achieve our vision of giving people the power to experience any place at any time.”
Matterport quickly established itself as leader in immersive media with its Pro 3D Camera and cloud service because of its simplicity of capture and the automated end-to-end system for creating and distributing immersive interactive 3D and VR Spaces. Matterport’s system is used by thousands of camera operators in more than 75 countries across several industries, including residential and commercial real estate, apartment rentals, vacation rentals, hotels, business listings, architecture, and construction.
CoreVR will be accessible initially through Matterport apps for Google Cardboard and Samsung Gear VR (powered by Oculus), with support for additional VR platforms in the future. As part of the release, Matterport’s VR app now comes with an example gallery of 150 real world places for you to visit in VR. The remaining places are accessible in VR via 3D Showcase.
In conjunction with today’s announcement, many of Matterport’s customers and partners also are incorporating VR as part of their business initiatives. These customers represent a wide variety of industries such as residential and commercial real estate, including JLL.
“JLL is on a mission to uncover breakthrough technologies that give our clients and employees the innovative tools they need to stay ahead in a rapidly transforming industry,” said Jill Kouri, Chief Marketing Officer for JLL Americas. “We see enormous opportunity to elevate the property marketing experience using a variety of technologies, and Matterport has been an integral part of marketing our properties in 3D. The addition of CoreVR will further strengthen the experience for our clients, keeping JLL at the forefront of the industry in its advanced use of technology.”