SOURCE: Soul and Vibe Interactive Inc.
MINNEAPOLIS, MN--(Marketwire - Mar 19, 2013) - Soul and Vibe Interactive Inc. (OTCQB: SOUL), "The Company," a video and computer games company, announced today its business model features sales of monetized games-related content, including virtual apparel, costume and prop collections for Avatars. Sales of Avatar items can generate an additional revenue stream for the Company and promote brand awareness for Soul and Vibe's games and intellectual properties ("IP").
Avatars, the digital representation of users online and in games, have grown in popularity across many computer and console platforms. Microsoft, for example, launched its innovative Avatar character set for the Xbox® 360 video game and entertainment system and its Avatar Marketplace on Xbox Live in 2008 and 2009, respectively. Through Avatar Marketplace, users buy virtual apparel including t-shirts, shoes, accessories, costumes; and props such as pets, hand-held toys, and miniaturized ride-on vehicles based on gaming intellectual properties, and pop-culture and licensed-brands including Disney, Adidas, and Burton. Purchases are made with Microsoft Points, a form of online currency. Each Avatar item sold is a marketing impression for the game and IP with which it is associated for the 55+ million Xbox Live subscribers online.
"Soul and Vibe intends to sell Avatar item collections in conjunction with each game we release. Avatar items based on the IPs of our licensed-brand partners, like General Mills, and our own proprietary IPs, is an ideal way for us to expand awareness for each of our games," stated Soul and Vibe's CEO and President, Peter Anthony Chiodo ("Tony").
"As a form of monetized games-related content, Avatar items are one form of revenue generating marketing vehicle that can provide an additional revenue stream for the Company. We also intend to develop and monetize in-game consumables and downloadable content that enhances and expands the experience for gamers," Chiodo added.
Soul and Vibe specializes in the creation of original intellectual properties and has extensive experience licensing world-renowned brands from influential companies. Soul and Vibe has a license agreement with General Mills, and game development and publishing agreements for the Xbox 360® video game and entertainment system, Windows 8, Windows Live, and Windows Phone from Microsoft, and the PlayStation® 3 computer entertainment system and PlayStation® Vita (PS Vita) from Sony.
About Soul and Vibe Interactive Inc.
Soul and Vibe Interactive Inc. (also Soul & Vibe Interactive Inc. on www.sec.gov) is a publisher of games and games-related content for consoles, mobile devices, and personal computers addressing a $56 billion market projected to grow to $82 billion by 2015. The Company specializes in the creation of original intellectual properties and has extensive experience licensing world-renowned brands from influential companies. Soul and Vibe has a license agreement with General Mills, and game development and publishing agreements for the Xbox 360® video game and entertainment system, Windows 8, Windows Live, and Windows Phone from Microsoft, and the PlayStation® 3 computer entertainment system and PlayStation® Vita (PS Vita) from Sony. Through partnerships with technically sophisticated software developers located all over the world, Soul and Vibe transforms unique concepts into engaging, highly accessible, and affordable games and entertainment experiences. www.soulandvibe.com.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release, including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.