NEW YORK, NY--(Marketwired - Apr 17, 2013) - Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO) -- Infinity AR, the pioneering developers of proprietary augmented reality software are proud to announce that it has commenced the development of its 360-Degree AR Platform . This groundbreaking technology, when operational, will connect the next generation of 360-degree camera to Augmented Reality Eyewear with live streaming capabilities.
"The advancements from Infinity AR will be that it can bring you there without actually being there," says Avrohom Oratz, CEO of Infinity AR. "Augmented Eyewear will have sensors such as gyroscopes and an accelerometer that will understand the angle the user is looking. If you move your head to the right the sensors will detect the angle and position your view to the right side and vice versa. The 360-degree camera can be placed in sporting events, concerts, used for online education, medical centers, religious events, or a tourist destination. Infinity AR's platform will surround you with visual data as if you are actually there. Think of your favorite live event, especially the ones you couldn't attend or when you couldn't get the best seats. With the 360-Degree AR Platform you'll have the ultimate view without actually being there; the only things you'll miss are the bad smells and the long lines at the restroom."
Mr. Oratz, CEO, continued, "The potential revenue stream is virtually unlimited when considering Pay-Per-View, sports channels, concert promoters, advertising and marketing firms, all of which will drive Infinity Augmented Reality's rapid expansion."
Infinity AR is positioning itself to maximize its opportunity through the development of its 360-Degree AR Platform technology and it's Online Gambling AR Platform. The Company's business plan is to capitalize on the potential revenue that will be created by these new technologies. Augmented reality glasses by Google are expected to be introduced toward the end of 2013.
According to PricewaterhouseCoopers, spending on entertainment and media services around the world is expected to rise from $1.6 trillion to $2.1 trillion by the year 2016, an increase of nearly 32%. Additionally, regulated real-money online gambling, excluding lottery and skill-based games, already generates nearly $30 billion in gross winnings internationally, with the UK and Europe accounting for 54 % of that market, according to a study by H2 Gambling Capital. The study predicts that by 2017 the US may represent up to 30% of the global online gaming market generating gross winnings just over $7.4 billion.
About Augmented Reality
Augmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the Internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical and entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.
Augmented reality requires an interface, such as digitally-enhanced eyewear, that can instantaneously overlay virtual images and video on top of what is actually experienced. Companies like Google and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. Infinity AR will utilize its augmented reality applications through these glasses and through other mobile devices including smart phones. As the individual changes his or her visual perspective the sights that are overlaid change accordingly. The eyewear incorporates audio speakers that add virtual sounds to the experience, as well as microphones that capture and interpret the user's spoken commands through speech recognition technology in order to summon desired information and actions. Further information on the Company is available at its website.www.infinityar.com.
Safe Harbor Forward-Looking Statements
Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.