Name: ENGAGE XR – Disrupting Global Communication
Uploaded: 2023-01-19T19:00:40.970626+00:00
Duration: 1669 s
Channel: Master Investor

Master Investor

David Whelan was stony broke after the 2008 financial crash, but after a €1,000 loan from his sister, and an investment into Oculus headsets he is now the chief executive of dual-listed virtual reality software company ENGAGE XR Holdings PLC (LON:EXR) which is dedicated to the deployment of the metaverse. 
 
The metaverse, according to Whelan, is the evolution of how we communicate online. Currently the internet is like a flat page filled with text and video. Compare that to the metaverse which is about engagement and a breakaway from the internet which can be solitary and divisive.
 
He talks to Master Investor about the company’s pathway to profitability, how everybody should have a stake in the metaverse and the customer profile which tellingly includes Facebook.

David Whelan was stony broke after the 2008 financial crash, but after a €1,000 loan from his sister, and an investment into Oculus headsets he is now the chief executive of dual-listed virtual reality software company ENGAGE XR Holdings PLC (LON:EXR) which is dedicated to the deployment of the metaverse. The metaverse, according to Whelan, is the evolution of how we communicate online. Currently the internet is like a flat page filled with text and video. Compare that to the metaverse which is about engagement and a breakaway from the internet which can be solitary and divisive. He talks to Master Investor about the company’s pathway to profitability, how everybody should have a stake in the metaverse and the customer profile which tellingly includes Facebook.

About ENGAGE XR Holdings

About the metaverse

ENGAGE XR Holdings' unique selling point

Addressing security concerns

ENGAGE XR Holdings' revenue generation

ENGAGE XR Holdings' recession-proofness

ENGAGE XR Holdings' long-term ambition

https://d3ev5earl6dvd0.cloudfront.net/public-media/videos/004/110/004110/video_FX19oqo.mp4

David Whelan, CEO of ENGAGE XR Holdings, joins Sarah Lowther for a discussion around the metaverse and how it affects his company. ENGAGE XR Holdings is a reality software company that focusses on the deployment of the metaverse. It is listed in London and Ireland.

The metaverse is the evolution of how we communicate online. Whereas the Internet is a rather flat environment, the metaverse is the equivalent of a real life's city. Companies in the metaverse will have their own metaverse which they can completely control.

Unlike companies like Meta, ENGAGE XR Holdings sees the Metaverse very similar to the Internet, whereby the Metaverse does not represent one platform but a collection of different platforms providing different services. With security being a major concern for ENGAGE XR Holdings, it is the only metaverse platform with ISO security certification as well as private hosting options.

Setting boundaries or banning other users are recommended tools for users to protect themselves in the Metaverse. In addition, ENGAGE XR Holdings considers NFTs to become valuable for the future use within the Metaverse, in terms of providing a technology for verification.

ENGAGE XR Holdings is generating revenue, and the company anticipates this revenue generation to accelerate in the future. Like on the Internet, the company expects ecommerce to take place on the Metaverse, too, but at a more experience-based level.

ENGAGE XR Holdings hasn't been affected by the danger of recession yet; the company is currently accelerating its business and trying to keep up with demand. It sees the Metaverse as an opportunity for companies trying to reduce costs, e.g. by hiring and onboarding remote staff, or hosting virtual events.

ENGAGE XR Holdings' long-term ambition is to disrupt all global communication, and to ensure that the Metaverse is accessible to and a safe space for everybody.