- Psychedelics company, Red Light Holland (TRIP) has engaged virtual reality developer, RadixMotion, to design a VR shopping experience
- The VR module will help inform and educate customers about microdosing magic truffles before they decide to make a purchase
- RadixMotion will also design a VR Avatar centred around Red Light Holland’s brand, for integration into the Meu Platform
- RadixMotion will receive a one-time fee of approximately C$27,000 for its services
- Red Light Holland (TRIP) is down 5.26 per cent and is currently trading at nine cents per share
Psychedelics company, Red Light Holland (TRIP) has engaged virtual reality developer, RadixMotion, to design a VR shopping experience.
RadixMotion’s VR module will help educate customers about the effects of microdosing magic truffles. This may help people to make informed decisions about magic truffles and other psychedelics before purchasing them.
It will also help Red Light Holland to gather useful information about customers’ experiences of psychedelics. Data about users’ experience of synaesthesia, suggestibility, or loss of autonomy may help further study and research into psychedelics.
RadixMotion will also design a VR Avatar centred around Red Light Holland’s brand, for integration into RadixMotion’s Meu Platform. The VR Module should be complete by 2020’s fourth quarter, while the VR Avatar could be ready by the third quarter.
In addition to the consulting agreement, Red Light Holland has also entered into an intellectual property license agreement. RadixMotion has licensed certain intellectual property relating to the VR Module and Avatar to Red Light Holland, on a limited, non-exclusive basis.
Red Light Holland’s CEO, Todd Shapiro, welcomed the agreement with RadixMotion.
“Now imagine shopping for something new – but wanting to truly experience it before purchasing? Pretty cool idea, right?
“What we are aiming to create here is a virtual reality experience that potential consumers can use before buying our Microdose Packs. This way, they can experience what the effects of microdosing magic truffles would be like, to help with their personal comfort and understanding before actually purchasing our product!
“We believe that developing this truly innovative virtual reality experience will propel us into the future of retail and online shopping experiences, with responsible use in mind,” he said.
Red Light Holland has agreed to pay RadixMotion a one-time fee of approximately C$27,153 for its services. This will include services under the overall VR design consulting agreement, and the license granted under the IP License Agreement.
In addition, the company has issued 150,000 incentive stock options to RadixMotion’s CEO, Sarah Hashkes, who will guide the design and development of the VR Module and Avatar. Sarah will also join Red Light Holland’s Scarlette Lillie Science and Innovation division as Scientific Advisor.
Red Light Holland (TRIP) is down 5.26 per cent and trading at nine cents per share at 10:55am EDT.