UFOs, fighter jets & Transformers: China’s $1.3bn VR theme park a world first (VIDEO)
The ‘East Valley of Science and Fantasy’ park is part of a more than $1.3 billion project being developed by the animation unit of Oriental Times Media in Guiyang, Guizhou. Set on a sprawling 320-acre site, the project will also house a VR movie-making studio as well as a media research and development center.
One particularly eye-catching feature is the 175ft Transformer statue towering over the facility. The robot, which is built from 750 tons of steel, the equivalent of two Boeing 747 jets, cost around $15 million to build. The park, which will open on a phased basis starting first with its Alien Base area, will also be home to China’s first virtual reality rollercoaster.
The cost of the park could prove quite cheap when factored against the potential of VR in the future. In 2016, the VR market was worth around $2.7 billion, a figure that’s expected to climb to $22 billion by 2020.
Including augmented reality, the total market could be worth around $108 billion by 2021, according to analysis by Digi-Capital. A study from CitiGroup, meanwhile, projects the total value of the AR market alone at $1.3trillion by 2035.