Our project researches and develops critical functionality required to bring our proprietary technology, Shock + Bolt, to the immersive industries and our immersive horror shows, with primary impacts / our beachhead located in the West of England region.
The technology addresses key challenges facing the immersive industries at a critical time in their growth. The UK experience economy is projected 26% growth (CAGR) by 2030 to £17.7 Billion (worldwide to $12.8 Trillion) with 50% of consumers already spending more on experiences in 2024 than 2023 (Mastercard Experience Report). From our national survey of 1000+ experience economy fans in 2022, we learnt that fans are as willing to travel to Bath as London, that £50 was a sweet price point, and that psychological horror was \#1 genre.
Shock + Bolt will power physical props, sets and digital experiences. We have validated this technology to Technology Readiness Level 3 (TRL). This project moves our technology to TRL8, providing new revenue streams for our business. The software allows the design of rich interactive sound, logic, buttons and connectivity to various industry standards: DMX (lighting), Java + Python (web),and OSC (audio), as well as integration with contactless payment systems. This means singular props can act as upsells without supervision, or an entire interactive show can run on the system.
25,490
2022-01-01 to 2022-03-31
Feasibility Studies
Non-Fungible Token (NFT) art is a rapidly growing marketplace with platform OpenSea now valued at $1.5 billion, with trade volume growing 12,000% in 2021 (artnews.com). NFT art is block-chained limited edition works of digital art that are traded online. Beeple sold an NFT through Christies auction house in March 2021 for $69m (verge.com).
Our project researches, prototypes and validates the use of NFTs as tools for creating first-to-market Immersive Location Based Entertainment (ILBEs). The project focuses on ILBE audiences & producer challenges through Design Thinking & the Audience of the Future (AotF) Journey Mapping Tool, seeking to explore, and prototype, opportunities to satisfy customer needs with the use of NFTs.
NFTs have the potential to completely disrupt the design, marketing, revenue and production model of traditional immersive entertainment. This project will help us succeed in our vision of creating the world's first NFT driven horror ILBE.