VANCOUVER, BC / ACCESSWIRE / February 10, 2021 / YDX Innovation Corp (TSXV:YDX)(OTC PINK:YDRMF)(FSE:APY1) (“YDX” or the “Company”) is pleased to announce that Render USA, LLC (“Render”), a subsidiary of YDX Innovation, is nearing completion in developing its online marketplace for content creation, Rendervous. Rendervous is a new platform that provides talented and experienced freelancers the opportunity to bid for gigs within the Rendervous community.
The goal is to connect content creators from video websites, such as YouTube, with video editors and motion design freelancers. The business model is similar to other successful platforms like Fiverr and UpWork, with a focus on media and entertainment. Rendervous will add a layer of quality control to ensure high level of services provided by the freelancers and a subscription option.
“The initiative was hatched a few months ago when we audited our business model,” said Kyle Sarwal, CSO of YDX. “The team had some discussions around supporting some of our entry level streamers and content creators who might not have the budget for some of the services that Render may offer. One of our team members suggested the concept of a freelance model, whereby the platform (Rendervous) will provide a customer a community to post their gigs and will provide opportunity for a freelance editor to bid on these gigs. As we continue to grow and enhance Render’s e-commerce experience, it is important for us to support these types of initiatives that provide additional growth for the Company and its ecosystem.”
The Rendervous platform will be released for beta testing in early March and hosted at www.rendervous.gg. To ensure quality across the service provider network, freelancers will be required to meet certain parameters to post their gigs. Freelancers, and customers, will both have commerce profiles and reputation rating systems. The Company will be populating the platform with initially qualified editors from its existing database, in addition to customer leads. The platform will also provide insights and key metrics to improve and enhance the Company. The engagements will also lead to upsells and, potentially, larger business for Render on accounts which grow beyond the freelancer model.
A recent study done by UpWork.com and the Freelancers Union found that around 57 million Americans were working as freelancers as of 2019. This makes up about 36 percent of the U.S. workforce and amounts to $1.4 trillion in earnings. And according to Forbes the two main freelance platforms registered $ 137 million USD of combined revenues in Q2 2020 alone.
“We feel that this platform will lend itself to win-win relationships for customers and freelance editors, alike, as we’ve seen similar models have success in other industries,” says Jeff Mashregi, VP of Operations for YDX. “We currently have an ecosystem of editors and we are currently turning down customers who may not have the budget for our base services. We would love to maintain the business, but the numbers don’t make sense at the rates these customers are looking for. This is what makes Rendervous special; we can provide an environment to capture some of these revenues, while supporting our editors with additional income opportunities to the success of the customer’s budget. I view this as a win-win-win.”
In related news, Render USA has formally hired Lynnie Wood as its GM. Lynnie has been with the business for quite some time, originally assisting with Render UK. In Lynnie’s new role, she will be overseeing Render USA’s operations and managing its teams and key accounts.
“I’m proud to be part of the team as an employee,” says Lynnie Wood, General Manager of Render USA. “My past leadership experience will be an invaluable asset in supporting our editors and managing the relationships with our customers. I’m looking forward to growing this great company and building something amazing.”
About YDX Innovation
YDX Innovation Corp. (TSXV:YDX :: www.ydxinnovation.com) is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, esports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions and through esports tournaments and content.
Purple Mage Advisors – www.purplemage.com – Purple Mage Advisors (PMA) is a research and data analysis firm that specializes in player recruitment and development in the gaming industry. PMA helps esports and gaming companies with industry reports, player recruitment, player training, data analysis and relevant statistical reporting.
Arkave VR Arena – https://sales.arkavevr.com/ – is a proprietary gaming platform that brings location based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third-party games.
YDreams Global – www.ydreamsglobal.com – has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.
RENDER – www.render.gg – Render is a professional video production studio specializing in crafting video content for YouTubers, Streamers, Teams and Brands. Render is highly specialized in gaming content, but also works with a wide variety of digital media.
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain “forward-looking statements” within the meaning of applicable Canadian securities laws, including, without limitation: number of visitors to the exhibition. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. The Company’s statements expressed or implied by these forward-looking statements are subject to a number of risks, uncertainties, and conditions, many of which are outside of the Company’s control, and undue reliance should not be placed on such statements. Forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Transaction, including: that the Company’s assumptions in making forward-looking statements may prove to be incorrect; general adverse market conditions and competition; the inability to finance operations and/or obtain any future strategic investment necessary to implement new technologies; the inability to build a sustainable, conscientious company with a stronger presence online through new products in esports and VR; the inability to bring Virtual Reality to consumers directly and offer expertise in immersive technologies; and that market conditions related to the COVID-19 pandemic may negatively affect the outcome of the business or operations of the Company, including its results and financial condition. Except as required by securities law, the Company does not assume any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
SOURCE: YDX Innovation Corp.
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