Numbers Don’t Lie

The Virtual Reality (VR) and Augmented Reality (AR) market is booming. In 2023, it’s a multi-billion dollar industry, with projections reaching over $30 billion by 2025. The VR and AR industries have applications ranging from gaming to education and beyond. 

Yet, despite their rapid growth, these technologies face significant hurdles. The industry faces gaps such as high development costs, limited consumer access to high-quality hardware, and a need for more streamlined content creation tools. 

Meet Masahiro Yamaguchi

Masahiro Yamaguchi, the visionary behind Psychic VR Lab, has a distinguished background. After a successful tenure as CEO of a publicly traded company listed on the Tokyo Stock Exchange in his late 20s, Yamaguchi pursued further education at the prestigious Massachusetts Institute of Technology (MIT). 

His studies at MIT in his early 30s equipped him with advanced engineering skills, which he brought back to Tokyo, setting the stage for his next big venture​. In 2016, Yamaguchi founded the Psychic VR Lab in Tokyo. The company quickly established itself as a leader in the extended reality (XR) field, developing STYLY, a creative platform for content creation and distribution using extended reality..

What Psychic VR Lab Offers?

Psychic VR Lab aims to broaden the use of Extended Reality (XR) in daily life. They create tools that make it easy for anyone to build and explore XR spaces. The company is dedicated to democratizing XR technology. They aim to make these immersive experiences accessible to a broader audience. By doing so, they hope to foster creativity and innovation across various sectors, including art, fashion, and commerce.

What is Extended Reality?

Extended Reality (XR) is an umbrella term that encompasses a range of immersive technologies including Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). Each of these technologies modifies our perception of the world or creates completely new digital environments.

Virtual Reality (VR)

VR immerses users in a fully artificial digital environment. Users wear VR headsets like the Oculus Rift or HTC Vive, which completely cover their vision and hearing, transporting them to a virtual world. This environment is entirely generated by a computer and can simulate both realistic and fantastical settings. The key to VR’s immersive effect is its ability to track the user’s head movements and adjust the visual display accordingly.

Augmented Reality (AR)

AR overlays digital information on the real world. Unlike VR, which isolates you from your actual surroundings, AR uses technology like smartphone cameras or AR glasses (like Google Glass or Microsoft HoloLens) to display digital content (such as images, text, animations) onto your everyday life. AR can enhance objects with interactive digital overlays, enhance navigational tasks, or offer augmented shopping experiences, blending digital elements with the real world in real-time.

Mixed Reality (MR)

MR combines elements of both VR and AR to create environments where physical and digital objects co-exist and interact in real-time. It allows for more sophisticated interactions between real-world and digital elements. For example, using MR devices such as the Microsoft HoloLens, users can see and interact with holographic objects in their physical space, manipulating them with hand gestures or voice commands.

How XR Works

The core technology behind XR involves sensors, displays, input methods, and processing power:

• Sensors include cameras, accelerometers, gyroscopes, and magnetometers that track movement and orientation. These sensors enable the device to understand your position and adjust the media output accordingly.
• Displays for XR can range from smartphone screens in AR to dual OLED displays in VR headsets, providing immersive visual feedback.
• Input methods such as voice commands, hand gestures, and controllers allow users to interact with the digital content.
• Processing power is required to run the complex software that XR applications demand. This can be provided by smartphones, dedicated computing hardware in headsets, or processed remotely via cloud computing.

The STYLY Platform

STYLY simplifies the integration of 3D models, videos, images, and sounds from various software tools. It supports importing from multiple sources, such as Unity, Sketchfab, and Google Poly. Creators can also use VR equipment to directly build and view their projects. Creators can drag and drop these elements into their XR projects, making the platform incredibly user-friendly. 

STYLY is compatible with numerous devices such as PCs, smartphones, and through web browsers. One of the standout features of STYLY is its ability to operate fully within a web browser. This eliminates the need for heavy software downloads. Whether you’re using a smartphone, a VR headset, or AR glasses, STYLY ensures a seamless experience. 

The platform enables creators to host virtual exhibitions and events. These can range from art shows to fashion runways, all accessible from anywhere in the world. The platform fosters a supportive environment where creators can share and showcase their XR projects. The platform hosts virtual exhibitions and galleries where artists display their work.

Building Bridges

One of Psychic VR Lab’s standout partnerships is with Nreal, a leading AR headset maker. Together, they have embarked on projects like the AGARTHA XR music exhibition, which blends immersive audiovisual experiences with cutting-edge AR technology

In collaboration with major real estate and transportation companies like JR West and Tokyu Fudosan Holdings, Psychic VR Lab converts physical spaces into digital experiences, enhancing the utility and enjoyment of urban landscapes. The company has also partnered with cultural and artistic organizations to host events and exhibitions. 

Accolades and Recognition

A key highlight is their participation in the prestigious International VR Awards. Their project, NEWVIEW SCHOOL, was nominated as a finalist in the “VR Education and Training of the Year” category. In 2020, STYLY received the VR Focus’ Better-Than-Reality Award in the ‘Best AR Application’ category.

 Their innovative use of XR in cultural and urban spaces has also been recognized by art and technology communities globally. The effectiveness and utility of STYLY in supporting digital twin initiatives have been acknowledged by major municipalities throughout Japan. The company has been recognized globally for its contributions to the XR industry, with numerous mentions in tech and design awards. 

Financial Milestones

Psychic VR Lab has raised $8.5 million in one of their latest rounds, aiming to expand their XR platform, STYLY​ (Road to VR)​. Further investment of $3.7 million from partners like JR West Innovations and Tokyu Fudosan Holdings has strengthened Psychic VR Lab’s financial base. Their innovative approach has attracted support from a wide array of tech firms and investors who see potential in XR technologies.

Wrapping Up

Psychic VR Lab has carved a niche in the XR industry with its innovative approach and the versatile STYLY platform. As they integrate XR into daily life, they challenge us to think differently about reality and virtual spaces. What will our cities look like when every urban space can double as an interactive art installation? Psychic VR Lab continues to push the boundaries, and it’s exciting to think about what they’ll achieve next. As we stand on the brink of this new reality, consider what role technology like XR could play in your life.