Xctuality

Xctuality Pte. Ltd. is a Singapore-based technology firm focused on creating immersive virtual experiences and bridging them with the physical world. The company was incorporated on January 18, 2018, originally as IGO SMART PAYMENTS & TICKETING SINGAPORE PTE. LTD.

The venture was founded by Warren Woon, who serves as CEO, and Adrian Oliveiro, the CTO. Their journey began by providing technology services, like e-ticketing and smart event solutions, for major physical events including the F1 Singapore Grand Prix and Slush Singapore. The onset of the COVID-19 pandemic prompted a strategic pivot in late 2019; instead of integrating AR/VR into physical events, they chose to build a fully virtual experiential platform. Woon's background combines hospitality, finance, and information systems with experience in investment advisory, which he applies to the tech startup scene.

Xctuality's core business revolves around developing software and applications that enable brands, creators, and consumers to connect in engaging virtual environments. The company operates with a dual approach. First, through "Xctuality Interactive," it offers bespoke 360°, VR, and streaming solutions for B2B clients, allowing them to host immersive events and monetize through e-commerce and ticketing. Second, with "Xctualyfe," launched in October 2022, the company provides a proprietary metaverse platform, positioned as a 'Shopify for the metaverse'. This platform acts as a social network where businesses can build their own virtual worlds and consumers can engage in a gamified discovery journey.

Revenue is generated through a mix of project-based fees for large-scale enterprise solutions and a planned transition to a SaaS subscription model, supplemented by a percentage of transactions within its virtual ecosystems. A key feature is the "phygital" (physical and digital) interaction, where digital coins earned in the metaverse can be redeemed for tangible merchandise from physical vending machines. The company has served notable clients such as the Singapore Tourism Board, Raffles Hotel, and the National Heritage Board. One of its distinctive projects includes Metafarms, a Web3 initiative that connects a virtual farming game to real-life farms in the Philippines, allowing gamers' earnings to benefit actual farmers.

Keywords: immersive experiences, virtual events, metaverse platform, phygital, 360-degree solutions, virtual reality, augmented reality, spatial computing, Xctualyfe, digital brand strategy, virtual economy, event technology, data storytelling, smart city technology, Web3, gamification, interactive streaming, digital-physical bridge, immersive commerce, virtual world building