XRSPACE

About XRSPACE

XRSPACE, founded in 2017 by Peter Chou, the former CEO and co-founder of HTC, is a company focused on creating social virtual reality platforms. Chou, an electronics engineer with a background at Digital Equipment Corporation before co-founding HTC in 1997, brings extensive experience from the smartphone and VR industries to this venture. The company is headquartered in Taoyuan City, Taiwan, and aims to redefine how people connect and interact in the metaverse.

The firm's business revolves around developing and providing metaverse platforms that integrate extended reality (XR), artificial intelligence, and 5G technologies. XRSPACE operates two primary platforms: GOXR, which is enterprise-focused, and PartyOn, an entertainment and social music-oriented metaverse. The business model appears to be centered on creating and licensing these virtual spaces for various uses, including corporate events, educational programs, cultural experiences, and social gatherings. Revenue is likely generated through partnerships with enterprises, content creators, and potentially through transactions within its metaverse ecosystems. The company has secured significant funding, including a $100 million commitment from Foxconn Technology Group, to build out its metaverse infrastructure.

XRSPACE's core product offering is its suite of metaverse platforms. GOXR allows businesses and cultural institutions to create immersive virtual experiences. For instance, the company has developed virtual versions of museums like Taiwan's National Palace Museum and significant cultural sites like the Beigang Chaotian Temple, attracting large numbers of virtual visitors. It also provides capabilities for corporate events and has been utilized by over 1,200 educational institutes. The PartyOn platform caters to consumers, enabling users to host and attend virtual social events and concerts. A key feature is the ability for users to create full-body, lifelike avatars that can track facial expressions and body motion for a more present and interactive experience. The platforms are designed to be accessible across various devices, including VR headsets like the Meta Quest 2 and formerly their own XRSPACE Manova headset, which was introduced in 2020 as a 5G-enabled device.