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The XR industry has marked significant growth in the last several years, particularly in the VR segment. According to industry reports, the extended reality market is expected to reach USD 463.7 billion by 2026, which is an impressive increase from USD 26.05 billion valued in 2020. With the rising demand for immersive technology solutions following the COVID-19 crisis, it is more important than ever to discuss the potential of XR and the impact it has already had.
XR4ALL, an initiative by the European Commission to strengthen the European XR industry, has organized an open webinar on the XR entrepreneurial and investment landscape in CEE. Join the event tomorrow, January 28, 2021 at 03:00PM CET, to meet some of the key players in the extended reality industry. Guest speakers include Raya Yunakova, VC Investor at LAUNCHub Ventures based in Bulgaria, Jenny Dreier, Venture Lead at Berlin-based EQT Ventures, and our very own Vitomir Jevremovic, founder and CEO of VR-All-Art. The panel discussion will be moderated by Leen Segers, Knowledge Manager of XR4ALL, Co-founder of Women in Immersive Tech Europe and CEO of LucidWeb.
Vitomir will speak about how VR-All-Art secured its financing, going back to the very first investment in cryptocurrency which was followed by the unexpected crash of the crypto market. He will also recount how the company received financial backing from the Innovation Fund of the Republic of Serbia, supported by the EU. Hear the full story about this and more on the XR landscape in Central and Eastern Europe webinar.
The online art fair, dubbed ArtCity October, opens to the public for virtual exploration today. Everyone who wishes to visit the fair can do so through the ArtCity website until the event ends on the 28th of this month. The online fair features a wide variety of art from the best dealers worldwide, from high-quality fine art, antiques, modern, as well as ancient art, old masters, and tribal art. As a technology partner for ArtCity October, VR-All-Art provides virtual representation for several fair exhibitors through its native technology.
Following the end of the local lockdown in Serbia, the VR-All-Art team has continued working on the latest planned exhibition of prehistoric art and artifacts from Vinca culture, one of the largest prehistoric archaeological sites in Europe. The team scanned over thirty of the most significant figurines from the Neolithic in three locations with the latest 3D scanning technology.
As the global lockdown progresses, cultural institutions remain inaccessible, closed to the audiences indefinitely. To counteract this unfortunate situation, VR-All-Art has decided to open its platform several months ahead of schedule. Due to the COVID-19 pandemic and the resulting social distancing, cultural institutions across the globe remain closed to the public and the only way to reach their audience is online.
Due to recent events that have affected us all, but perhaps especially cultural institutions such as museums, we are working quicker than ever on moving as much art and cultural heritage into virtual reality as possible, so that anyone can enjoy and draw endless inspiration from art and culture wherever they are on the planet.