PlaySide Studios entered into a game development agreement with Meta

PlaySide Studios Limited (ASX:PLY) announced that it had entered into a game development agreement with Meta Platforms Technologies, LLC. After a successful concept pitch, Meta has allowed the company to design, develop and create a mixed-reality interactive software product to be playable on its Quest suite of virtual reality devices. 

The company will get payments for making the game and will receive a share of net revenues from the game in perpetuity. The development payments will be received at agreed milestones, consistent with industry-standard requirements for making the game to launch. The contract is in effect immediately, and work on the title is projected to start in the current financial year.

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