The cat is finally out of the bag for tech-savvy Thred Limited (ASX: THD) and its app development unit Agent Reality.
The tech company announced a A$225,000 deal to develop a tailor-made app in early March but was unable to reveal the name of its “government sector” client for confidentiality reasons.
With the embargo period now expired, Thred has revealed that its new client is the Vivid Sydney 2018 festival, an internationally recognised award-winning showpiece event held annually over the course of 23 consecutive days in Sydney, New South Wales.
From attendances in recent years, its organisers expect an attendance of around 1 million people over the course of the event, with last years’ event inducing over 400,000 downloads of the event’s official app.
Thred says it has been tasked with creating Vivid’s first ever “augmented reality art experience” and to introduce other innovative technologies including beacons, geo-location capability and “gamification mechanics”.
The company aims to deliver the augmented reality experience for the event commencing on 25 May 2018.
Agent Reality aims to generate recurring earnings through the platform.
The announced deal is expected to provide multiple monetisation opportunities for both Thred and Agent Reality, but also the Vivid Sydney show itself, given the advanced functionality being provided.
According to Thred, in addition to augmented reality other features including “geo-chat” and messaging app that is free, allowing users to engage and interact with their local surroundings. This could either be finding other people nearby or engaging with pre-set variables set by the show’s organisers.
Not yet confirmed, but the Agent Realty app could potentially offer visitors interactive features that lead to additional monetisation opportunities through third-party partners and sponsors.