YDreams Global Interactive Technologies Inc. (TSXV: YD) (OTC Pink: YDRMF) (FSE: A2AP0L) ("YDreams Global" or the "Company) would like announce that two of the Company´s top Executives attended a meeting on April 30th, with the Minister of Culture of Brazil, Mr. Sergio Sá Leitão and with the President of Ancine, Mr. Christian de Castro Oliveira, which is the government institution responsible for incentives for different media productions, such as Cinema and Games.
The meeting was part of a Public discussion about the gaming industry organized by the government. XRBR Association is bringing to light the huge potential of the Augmented, Virtual and Mixed Reality industry in Brazil. The Association has Marcos Alves as the President. Mr. Alves is YDreams Global's Director of Ventures and is currently responsible for the acceleration program that is bringing five highly innovative AR and VR companies to Vancouver to receive training and to gain a deeper understanding of the North America market. The Company will have early access to investment in the startups that have a sustainable and fast growth business model.
"It's an important accomplishment that XRBR, a group created so recently, is already representing a whole industry. Bringing together almost 90 companies in less than two months after being created as well as being recognized by the Federal Government, Ancine and the Culture Secretary of São Paulo, as a representative of this industry and an ally to assist with the creation of the necessary public policies to organize and stimulate the growth of this important new industry," stated Marcos Alves, Director of YDreams Global and President of XRBR.
During the meeting with the Brazilian Government, Daniel Prado, Chief Technology Officer of YDreams Global and board member of XRBR, was also present.
Discussions during the meeting focused on the different industries that will be affected by these technologies and how the government can help to expand AR and VR initiatives and how companies like YDreams Global and XRBR can have better conditions for growth and the export of services.
The Brazilian government has a CAD$264 million annual fund to stimulate several media productions like television and movie content. The plan is to extend this benefit to the Mixed Realities (XR) industry and use the expertise of companies involved in the production of such technologies to create policies that will make sense to the growth of this new sector. The XRBR Association and YDreams Global are key players in these discussions and are able to help facilitate the exchange of valuable information between government and industry.
With the international expansion of the YDreams Global brand and its main VR product, Arkave, the Company is a positive example of the potential of immersive technologies for the country. The Company is discussing significant negotiations for Arkave expansion in Brazil, North America and Europe.