Wecast Network, Inc. (NASDAQ: WCST) (“Wecast” or the “Company” or “WCST”), declared recently that the Company is presently concluding final testing of a B2B virtual reality (“VR”), augmented reality (“AR”) and artificial intelligence (“AI”) –facilitated commerce technology solution (“V Market”) that will be launched in Q2 2017. Consumer electronics and IT components will be the first product categories launched utilizing Wecast’s SaaS (Software as a Service) B2B V Market solutions.
From a high-level perspective, VR is an immersive, three-dimensional, computer-generated environment that a user interacts with while wearing a special headset. AR and 360 degree viewing are less immersive, but can be accessed via the consumers’ own mobile devices. It overlays information or computer-generated content on the real world, as seen through the device’s camera. Both allow customers to move through a store, showroom or warehouse just as they normally would, while simultaneously encountering products in a whole new sensory channel. AR and VR gives customers access to in-depth information on fit, manufacturing, uses and cross-sell opportunities.