Liquid Avatar and KABN to receive augmented reality innovations as per the terms of the partnership. KABN Systems NA Holdings Corp., is a fintech firm from Canada known for its continuous online ID verification, management and monetisation offerings for the Canadian and US markets. The company recently announced the signing of its initial agreement with Europe’s Geon Network, a worldwide leader in augmented reality (AR) technology.
As per the terms of the agreement, Geon Network will provide KABN and Liquid Avatar users several cutting-edge AR applications, including the patent-pending AR geo-location mining rewards platform. The technology lets users interact with designated real locations, to observe various interactive images, virtual objects, tasks, beacons, and events on their mobile devices. Liquid Avatar will work with GEON to develop proprietary augmented reality solutions to improve the value it offers to customers and its partners.
A recent report on Benzinga.com indicated that the worldwide AR services market may reach an estimated valuation of $148.72 billion by 2023.
Geon has achieved the 200,000 application downloads limit across Android and iOS platforms, with a massive base of users in the EU. It also has more than 1.7 million predetermined AR locations, 80 thousand of which were created by the company’s community members and business associates. On a weekly basis, the AR users of Geon visit more than 3,700 different locations. The company has launched its augmented reality-based mapping and location platform for visitors, at this year’s World Economic Forum in Davos. During the Polish presidential elections, its platform was used for highlighting locations. As many as 5,800 Geon platform users visited the voting booths.
Geon also offers a gamification platform to let its users create or visit existing virtual events, objects, and beacons at precise locations. Users earn rewards in the form of discounts, items, and the virtual “coins” currency depending on the tasks completed or time spent. During the early testing phase, more than 6,000 Geon users spent their Geon coins to redeem products and services through the company’s in-app store.
KABN will use the technology to develop and deliver augmented reality experiences in North America, with Liquid Avatar for offering functionality such as sharing, dining, shopping and tourism. The platform can create location-based virtual games, tasks and offers for individuals to engage with, by asking permission. These experiences are available to the verified user-base of Liquid Avatar, who can benefit from locating virtual objects to receive specific rewards. Some of the rewards on offer include discounts, coupons, loyalty points, and more.
Liquid Avatar uses technology to let users send augmented reality-based messages to others. It has generated many new interactive methods of communication on Liquid Avatar. Ben Kessler, the CEO of KABN, expressed that augmented reality may become integral to the development of online engagement and insight analysis. He emphasised that consumers can benefit from the company’s AR integration drive, fuelled by its partnership with Geon.
