Engage XRâs (LSE: EXR) share price has rocketed on Thursday following news that its software is to be used in several US âmetaversitiesâ launching this year.
Metaverse stock Engage XRâs share price was trading 71% higher on the day at 17.5p. The tech business touched its most expensive since November at 19p earlier in the session.
What has happened?
Engage XR announced today that its partner, VictoryXR, will launch 10 âmetaversitiesâ in the US during the autumn.
Each campus will be built by VictoryXR, it said, using Engage XRâs proprietary software.
Universities will roll out a digital âreplicaâ campus for students to attend classes whether theyâre on site or learning remotely. They will allow pupils to learn and interact as if they were in a physical classroom.
Students will receive a Quest 2 digital headset for use during courses, Victory XR said, that will be provided by Meta. The US tech giant will also pay for the creation of the digital âtwinâ campuses.
VictoryXR added that three additional metaversities will be launched next month.
What they said!
The partnership with VictoryXR was funded by Meta through its Meta Immersive Learning division. The Facebook owner created the unit âto help develop the next generation of metaverse creators,â Engage XR says.
In the announcement, Steve Grubbs, VictoryXR chief executive, commented that âremote learning is growing and these schools have decided to look for something better than a Zoom class“.
He added that âwhen the history of metaverse education is written, these are the schools that will be known as the metaverse pioneers.â