0930 Friday 7 December 2018

This morning it was announced the British singer Liam Payne will be performing in a live streamed virtual reality event on the MelodyVR platform. This marks the first live event hosted by MelodyVR and in early morning trading it parent company, EVR Holdings, shot up over 20%. Longstanding investors in EVR has been much awaiting the announcement of a live event as many saw the potential for the platform, but were waiting to see the results.

While the actual location of the former One Direction singers gig remains a secret, the ‘ground-breaking’ virtual reality technology used by MelodyVR will allow fans from around the world to experience the concert as if they were there. The ‘Jump Spot’ technology used within the broadcast will also let fans choose where they want to view the performance from. The much awaited first concert is a significant step for the company as it looks to build on a series of live VR events.

EVR Holdings first acquired MelodyVR in 2016 and has since partnered with major record labels, artists, venues and music festivals which has positioned the company in strong standing as the virtual reality marketplace begins to grow. EVRH.L has had a year of peaks and troughs hitting a high of 18.00 at the end of April, before hitting a recent low of 4.20 and it is thought that the announcement of the first live event will be the start of good things to come for the firm after spending both time and money to place themselves in a strong position. There is also speculation that the firm might be under the gaze of firms that they have partnered with, including Microsoft and Facebook, as they may seek to acquire the company outright.

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