Entertainment start-up Xavatar signs deal with Fexco for metaverse payments

AI entertainment company Xavatar has signed a deal with Kerry-based Fexco Group to facilitate payments in its metaverse.

Fexco’s technology will be used to underpin a bespoke digital wallet in the Xataverse, allowing users to make transactions in the digital world.

The partnership with Fexco is intended to make it easy and safe to make digital payments in teh Xataverse, while also facilitating payments for real world shopping and entertainment experiences.

“When we envisioned the concept of the Xataverse and the accompanying payment system, Fexco helped us to understand the mechanics and together, we were able to integrate what this process will be for the greater ecosystem that encapsulates our immersive experience of the Xataverse,” said Kevin Sharpley chief operating officer of Xavatar. “We feel this revolutionary tool will allow people the opportunity to best integrate with our show The Art of Movie Music and our other upcoming offerings both in the digital and real world and ultimately save everyone time and money.”

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The move is considered a key step for Zavatar, which is expanding its presence in the sector, and follows Xavatar’s debut at the Cannes Film Festival with a live production of The Art of Movie Music.

Founded by Mr Sharpley, chief executive Jason Rothberg and chief creative officer Gianfranco Bianchi, immersive media company Xavatar offers downloadable AI-driven avatars for use in video conferencing and its metaverse, alongside its real-time animation media production services.

“The metaverse offers an exciting new opportunity for fintech innovations,” said  Fexco’s COO Karl Aherne. “This partnership allows us to leverage Fexco’s decades of experience in cutting-edge payments technology and the expertise of the Xavatar team to deliver an unparalleled customer focussed payment experience within the Xavatar metaverse and online.”