Future Lighthouse has been home to many adventurous productions throughout the years working on various VR projects. Most recently, we got to check out Melita which has been one of the most impressive VR animation we’ve experienced. But that all now seems to be coming to an end as Future Lighthouse has announced that they’ll be coming to a close.
In a public post, the team announced that they are shutting down the lighthouse over the coming months due to not reaching its capital raising goals in 2017.
“Despite our achievements and potential operational profitability in 2018, sadly Future Lighthouse has not reached its capital raising goals in 2017. We could have grown organically as the industry progressed, but we decided to make a bet and put everything out there. To hire an incredible team of talented people and invest our own money in original content. But the slow down of the market hit us and without investment capital for future growth, we have been forced to make the tough decision to wind down operations in the coming months.”
But in a short period of time, Future Lighthouse was able to accomplish a lot and set some new standards for the VR industry. They’ve created 18 VR productions, was nominated for 40 VR festival awards and selections, and amassed over 100k downloads for one of their VR experiences on PSVR.
Future Lighthouse has been able to accomplish a lot in a very short duration of time. Their team pushed the boundaries in the VR space and have re-imagined the possibilities on the immersive platform.
And while the studio is closing down, Future Lighthouse still believes VR is the future. “Although we are sad to see the Lighthouse go, we still think VR is the future. We still firmly believe that it will change us.” Make sure to check out Melita today if you’ve yet to see the immersive experience. Melita is available on the Oculus Rift and Gear VR. The experience will definitely engulf your mind.