A media company that already boasts the largest collection of digital, 3D versions of real-world places has just announced an easier way to deliver a virtual reality (VR) experience of a real-world locale. Matterport has a library of about 250,000 virtual reality spaces often used by real estate firms and for apartment rentals, vacation rentals, hotels, business listings, architecture and construction sites. The company has just launched CoreVR, which they’re calling "the fastest, easiest, and least expensive end-to-end system for delivering a VR experience of a real-world place."
Here’s how it works. Matterport camera users will be able to select a "CoreVR option" (for $19 per new 3D space) to allow them to quickly translate images into immersive virtual reality experiences automatically. Bill Brown, CEO of Matterport, called the new technology the "most effective and scalable option to allow anyone to create a VR experience of a space." A new app will also allow users to tour a gallery of 150 real-world places to visit in virtual reality. The idea is to open the door for camera users to easily translate their work into VR content. And the hope is that more companies will start integrating virtual reality into their business plan.
Virtual reality content has been picking up steam, becoming especially popular to use in the real estate and design world. According to Matterport, the industry is projected to generate $4.6 billion in revenue in 2017, garner 171 million users by 2018, and become a $35 billion industry by 2025. Matterport already works with companies like Realtor.com, Sotheby’s International Realty, and Vacasa, a tech-enabled vacation management company.