Cortopia secures 28 million SEK for an external publishing deal for a new game based on a VR-hit sequel
Cortopia, a wholly owned subsidiary of Beyond Frames Entertainment, has signed an external publishing agreement with an undisclosed partner, which covers the full funding of the unnamed VR-hit sequel. In addition to funding the production of the game, the Publisher is also funding quality assurance, localization to other languages, platform distribution, marketing, and ongoing support services. Further details about the partnership and the game are undisclosed due to confidentiality agreements.
“We’re so thrilled to be trusted by the original studio to further develop the sequel for one of the staple IPs in VR games. The partnering Publisher has a solid track record from the first installment, and we couldn't be happier to partner with them”, said Ace St. Germain, CEO for Beyond Frames Entertainment.
The project will be the second in production within Cortopia and is fully funded through the publishing agreement. The 28 million SEK in development funding will be recognized as revenue throughout the project and through customary revenue share after the recoup period.
This disclosure contains information that Beyond Frames is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, at the time specified by the Company's news distributor Cision at the time of publication of this press release.
Frida Gustafsson, CFO
ir@beyondframes.com
+46 (0)72 997 97 50
About Beyond Frames Entertainment
Headquartered in Stockholm, Sweden, Beyond Frames is an XR-focused publisher with its development studios Cortopia, Moon Mode and partner studio Odd Raven. Offering creative and technical consulting, funding, marketing and publishing services, Beyond Frames partners with studios creating amazing XR products such as ARK and ADE (Castello Inc.), Silhouette (Team Panoptes), Ghost of Tabor (Combat Waffle) and Mixture (Played With Fire), Beyond Frames Entertainment AB (publ) is listed on the Swedish Spotlight Stock Market, ISIN: SE0011614965.
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