Cemtrex Announces First VR Game, Ultra85, To Be Released in June 2018
March 15 2018 - 8:34AM
Cemtrex Inc. (Nasdaq:CETX)(Nasdaq:CETXP)(Nasdaq:CETXW), a world
leading technology and manufacturing company, today announced
that it plans to release an original content virtual reality (VR)
gaming experience entitled, Ultra85. This game is being developed
in-house by the Company’s recently formed CemtrexVR team
(www.cemtrexvr.com) for Steam VR and Oculus.
Designed and developed as a VR-only experience from the ground
up, Ultra85 blends classic arcade mechanics with immersive
physics-based sword combat. Inspired by the action flicks and 8-bit
games of the 80s - Ultra85 explores the experimental overlap
between the traditional comic book format and interactive
gameplay.
CemtrexVR's team in NYC is currently working through core game
mechanics and story development for the first chapter of Ultra85,
which is slated to release in early access on Steam and the Oculus
Store in June.
The VR Gaming market in 2016 was estimated at $3.6 billion and
is expected to reach $22 billion by 2020, according to market
research from Statista. Adoption is expected to pick up
particularly with the upcoming release of Oculus Go this spring and
from recent announcements from Google and Magic Leap.
Cemtrex’s Chairman and CEO, Saagar Govil commented, “The virtual
reality gaming industry is slated to explode similarly to how the
mobile app industry did after the iPhone was released. With rapid
innovation in headsets taking place every day we anticipate that VR
adoption will continue to exceed expectations. Our strategy is to
position Cemtrex in multiple verticals within virtual reality
markets to leverage the rapid growth in the industry with our
competencies in software development. We will continue to explore
opportunities to develop original content, collaborative
experiential applications, and games as we aim to create new high
growth revenue streams for our Company.”
Cemtrex plans to release an early access version of the product
this June 2018. To ensure you get access to this release sign up at
www.cemtrexvr.com to get the latest updates from the Company.
About CemtrexCemtrex, Inc. (NASDAQ:CETX) is a
world leading multi-industry company that provides a wide array of
solutions to meet today's technology challenges. Cemtrex provides
manufacturing services of advanced custom engineered electronics,
extensive industrial services, integrated hardware and software
solutions, monitoring instruments for industrial processes and
environmental compliance, and systems for controlling particulates
and other regulated pollutants. The Company also develops its own
proprietary IoT and wearable devices.www.cemtrex.com Follow Cemtrex
on Facebook and Twitter
Safe Harbor Statement This press release
contains forward-looking statements. Actual results could differ
materially from those projected in the forward-looking statements
as a result of a number of risks and uncertainties. Statements made
herein are as of the date of this press release and should not be
relied upon as of any subsequent date.
For further information, please contact:
Investor Relations Cemtrex, Inc. Phone: 631-756-9116
investors@cemtrex.com
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/3c0ce8c3-c6a5-4a23-aa29-1b11b491f5fb.
The photo is also available via AP PhotoExpress.
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