VANCOUVER, British Columbia, May 03, 2023 (GLOBE NEWSWIRE) -- ARway Corporation (CSE:ARWY) (OTCQB:ARWYF) (FSE:E65), an AI-powered platform that provides augmented reality experiences for indoor spaces, has begun integration development with Magic Leap Glasses, one of the most widely used AR Glasses, and expects to complete the integration in the next 60-days.
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Magic Leap glasses are a fascinating augmented reality innovation designed to create a seamless blend between the virtual and real worlds, allowing users to experience digital content in a way that feels as if it's a part of their physical environment. Magic Leap glasses use advanced technologies like eye-tracking, spatial sound, and six degrees of freedom or 6DoF, which refers to the number of axis that a rigid body can move freely in 3D space.
Eye-tracking technology enables the glasses to detect where the user is looking and adjust the virtual content accordingly. Spatial sound technology creates an audio experience that is tailored to the user's position in space, making the virtual content sound like it's coming from the right direction. 6DoF technology allows users to move around freely and interact with digital content as if it's a part of the real world.
Magic Leap has received billions of dollars in funding from high-profile enterprise companies like Google and Alibaba, which underscores the potential value of this technology. As Magic Leap Glasses continue to gain traction and adoption, investors can expect to see increased demand for integrated products and services such as those provided by the ARway.ai platform.
ARway’s platform allows users to easily create experiences for navigation, tours, information sharing, notifications, advertising, and gamification. With the integration, ARway will provide a software package for agencies, brands and corporations to create and publish large-scale location persistent AR experiences to Magic Leap 2 devices from the ARway platform, leveraging ARway's computer vision and extended tracking technologies.
The integration comes at a pivotal time, as Magic Leap is now natively supporting OpenXR, a royalty-free, open standard that provides high-performance access to Augmented Reality and Virtual Reality, collectively known as XR-platforms and devices, thereby creating an accessible augmented reality ecosystem that benefits both enterprises and developers across industries.
The global indoor positioning and indoor navigation market is expected to reach US$44 Billion by 2025, representing a 7-year compound annual growth rate of 42%, according to Allied Market Research.
The shares, which began trading in November, are trading at $0.81. For more information, please visit the company’s website www.arway.ai or contact Evan Gappelberg, CEO, at 866-274-8493. For Investor Relations, contact Julia Viola at investor.relations@arway.ai.
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