According to a new report from VRJournal, some of the most experienced entertainment industry veterans at the world’s most prominent entertainment companies have banded together to launch a new VR entertainment company.
VFX/CGI leaders Euan Macdonald, Hans Uhlig and Kymber Lim have co-founded the company in question called CryWorks, which is hailed as a new immersive entertainment company aimed at creating and delivering “breathtaking virtual and augmented reality experiences across existing and future platforms.”
Ahead of the weekend, VRJournal learned that the company has scored a seed round investment led by Michael Bay’s 451 Media Group, 500 Mobile Collective, and leading cross-border venture fund WI Harper Group.
As for the goal of the new company, that much is definitely clear.
Taking the same drive in innovative visual media at the forefront of visual effects and AAA computer games and applying it to new, immersive formats is part of the founding team’s key philosophy. The team also recognizes the exploding VR market will act as a catalyst for creating truly new forms of entertainment and media, helping to launch new franchises and brands that transcend VR.
“Although there are a few high-quality VR content pieces to date, most of them have little incentive for the viewer to keep tuning back in,” says Euan Macdonald. “We see an opportunity to build the first VR broadcast network, partnering with other production companies and creating addictive, episodic experiences.”
To lean more about CryWorks, click here.