VCIG Signs Letter Of Intent To Acquire AI Enhanced-Augmented Reality Gamification Marketing Platform From Playstack Limited

KUALA LUMPUR, Malaysia, Nov. 20, 2023 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) today announced that it has signed an agreement with Playstack Limited (“Playstack”), a games developer and publisher based in the UK, to acquire the IP and assets of Playstack’s unique AI based-AdTech platforms. The platform uses AI alongside gamification of digital marketing assets and new disruptive technologies, such as augmented reality to maximize brand engagements on mobile with global applications across corporate, consumer and large audience event opportunities.

At a time where the limitations of traditional brand engagements and advertising have been stretched and relatively taxing on budgets, this AI based-augmented reality gamification marketing platform capitalizes on gamification of digital marketing assets to maximize and vastly improves digital engagement on mobile phones. The technology provides synergistic platforms, explicitly designed to provide powerful mobile engagement and revenue generation.

The number of smartphone users in the world has been projected to be as high as 7 billion in 2023, depending on which research organization’s data is used for reference. Mobile phones therefore undoubtedly offer a vast global reach.

This AI enhanced-augmented reality gamification marketing platform has achieved numerous downloads and brand interactions in the UK alone. It has been used with great success by major brands in its UK pilot, including Warner Bros, Sky, Samsung, Virgin, Heineken, Unilever, Danone, UK banks, as well as Team GB and several good cause charities. This proves its ability to connect with, and monetize users in a new innovative way, leading to higher retention, engagement and activation rates.

These platforms will significantly enhance VCIG’s customer engagement and monetization, and act as the central conduit in its digital engagement strategy and growth plans, allowing VCIG to collect valuable customer data on spending behaviors and insights such that VCIG will drive consumer activations in its newly partnered businesses with hotels and other related organizations.

“The integration of these AI brand engagement platforms by VCIG is a creative and innovative digital mechanism that will not only help VCIG drive user engagement, retention and purchasing, but also enhance our technology offering, enticing additional users and brands to engage with VCIG. It uniquely taps into the current consumer interest in AI and the Metaverse, allowing users to engage in a gamified world with brands at its core. We will be able to leverage the additional functionality as it provides valuable insights for tracking consumer behavior and a consumer experience unlike that provided by other media platforms. Focused on data driven customization of user and brand interaction, VCIG will offer a vast new digital engagement vertical in brand management, making the platform a measurable and transparent marketing tool, a marketer’s dream,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About VCI Global Limited

VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services. Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.

For more information on the Company, please log on to https://v-capital.co/.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

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Issued by Imej Jiwa Communications Sdn Bhd on behalf of VCI Global Limited
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Imej Jiwa Communications Sdn Bhd
Chris Chuah
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