VIDG Completes Definitive Co-Development Agreement With Platypi Games
BELLINGHAM, WA--(Marketwired - May 21, 2015) - VID3G INC. (OTC PINK: VIDG) VIDG (or the "Company") is pleased to announce an update to its entrance into the $30 billion mobile game space. The Company has completed its definitive co-development and marketing agreement with Platypi Games Inc., a Vancouver, Canada-based mobile games developer.
Under the arrangement, Platypi brings expertise and Intellectual Property in the form of current game titles and pre-production game titles. VIDG will provide development capital and access to China's vast mobile game market and additional technical expertise through Vid3G's network in China. Both entities will provide resources to market the games in Canada, the USA and eventually on a global basis.
Update on Platypi Games Inc
. - To reflect its commitment to provide unique games and unique game experiences, the game company has begun to brand itself as Platypi Games with a new site to showcase its team, as well as current and future projects: http://www.platypi-games.com
The initial launch title, Battle Cattle, is a physics based castle defense game inspired by such classics as Missile Defense and Angry Birds. Since our last press release, Battle Cattle has been re-imagined in the Unity 5 Development Platform Engine to take advantage of its massively enhanced graphics capabilities and its comprehensive multiplatform support.
In a previous press release, we announced that Platypi was developing an Arcade Style Unique Futuristic Space Shooter (inspired by the classic arcade space shooter genre) as its next title, however that has been moved back in place of a much more exciting game opportunity. Platypi is currently prototyping designs for a Massively Multiplayer Online Mobile Collectible Battle game. They believe this market has tremendous growth potential and greater longevity than typical mobile games.
Newzoo, a top market research firm, estimates that the global mobile game business is expected to surpass console games in revenue in 2015 hitting over $30 billion globally, up from $25 billion in 2014. According to a new report released by research firm eMarketer, US mobile game revenues alone will grow 16.5% to reach $3.04 billion in 2015. Revenue from traditional downloads, In-App purchases and Ad-Revenue is growing at a rate higher than any other facet of the mobile industry, including eBook sales and music sales.
Roy Bosa, CEO states "We are excited to delve into the mobile games market as it continues to grow rapidly. We believe we have secured the people necessary to creatively market and distribute our games in a capital efficient way, thus allocating more resources to new game development. By entering into this growing sector, we expect a successful future for the company, thus creating value for our shareholders."
About Vid3G Inc.
Vid3G Inc. is a company that specializes in identifying companies with significant growth potential and bringing together the resources needed to attain financial stability and growth for these entities. Our focus is on companies with identifiable upside potential from bringing new technologies and unique products to market. The Company acquired the right, title and interest to several Vid3G mobile application patents from Leexoo Technology Ltd/Vid3G LLC with which we are utilizing to develop the next generation social video sharing mobile application for Asia and North America. With this technology the 700 million Chinese mobile users will have the opportunity to video and video stream on their smart-phones at the highest quality since similar technology is not available in China.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.The words or phrases "would be," "would allow," "intends to'" "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "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. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.