Playside Studios (ASX:PLY) - CEO, Gerry Sakkas
CEO, Gerry Sakkas
Source: Neuralle
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  • PlaySide Studios (PLY) successfully extends and significantly expands its work-for-hire development agreement with Meta Platforms, formerly Facebook
  • The initial work-for-hire agreement with Meta involved the conceptualisation, creation and development of prototype explorations and games services on Meta’s Horizon Worlds platform, which the new agreement extends for another 16 months
  • In addition, PlaySide is provided with a separate six-month contract to provide a new virtual reality initiative for Meta to be delivered in October 2022
  • Shares in PlaySide Studios were up 1.39 per cent to $0.73 as of 3:41 pm AEST

Video game developer PlaySide Studios (PLY) has successfully extended and significantly expanded its work-for-hire development agreement with Meta Platforms, formerly Facebook, for another 16 months.

The initial work-for-hire agreement with Meta involved the conceptualisation, creation and development of prototype explorations and games services on Meta’s Horizon Worlds platform.

The new agreement extends this direction and work.

In addition, PlaySide has been provided with a separate six-month contract to provide a new virtual reality initiative for Meta to be delivered in October 2022.

CEO Gerry Sakkas said significantly extending and expanding its agreement with Meta further builds its relationship with a “global brand and leader in innovation”.

“This announcement reinforces PlaySide’s belief in VR and the role it is likely to play in the metaverse as it is further imagined in time,” Mr Sakkas said.

The company noted the games are consumable in Horizon Worlds on the Meta Quest, an all-in-one VR headset.

PlaySide is Australia’s largest publicly listed video game developer and provides titles in a range of categories, including self-published games based on original intellectual property and games developed in collaboration with studios such as Disney, Pixar and Warner Bros.

The company’s portfolio consists of over 50 titles that are delivered across four platforms, which include mobile, virtual reality, augmented reality, and PC.

Shares in PlaySide Studios were up 1.39 per cent to $0.73 as of 3:41 pm AEST.

PLY by the numbers
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