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YDX Innovation Corp (2)
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Close 2021-02-09 C$ 0.16
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YDX's Render USA works on content marketplace

2021-02-10 07:15 ET - News Release

Mr. Daniel Japiassu reports


YDX Innovation Corp.'s Render USA LLC, is nearing completion in developing its on-line marketplace for content creation, Rendervous. Rendervous is a new platform that provides talented and experienced freelancers the opportunity to bid for gigs within the Rendervous community.

The goal is to connect content creators from video websites, such as YouTube, with video editors and motion design freelancers. The business model is similar to other successful platforms like Fiverr and UpWork, with a focus on media and entertainment. Rendervous will add a layer of quality control to ensure high level of services provided by the freelancers and a subscription option.

"The initiative was hatched a few months ago when we audited our business model," said Kyle Sarwal, chief strategy officer of YDX. "The team had some discussions around supporting some of our entry-level streamers and content creators who might not have the budget for some of the services that Render may offer. One of our team members suggested the concept of a freelance model, whereby the platform (Rendervous) will provide a customer a community to post their gigs and will provide opportunity for a freelance editor to bid on these gigs. As we continue to grow and enhance Render's e-commerce experience, it is important for us to support these types of initiatives that provide additional growth for the company and its ecosystem."

The Rendervous platform will be released for beta testing in early March and hosted at the Rendervous website. To ensure quality across the service provider network, freelancers will be required to meet certain parameters to post their gigs. Freelancers and customers will both have commerce profiles and reputation rating systems. The company will be populating the platform with initially qualified editors from its existing database, in addition to customer leads. The platform will also provide insights and key metrics to improve and enhance the company. The engagements will also lead to upsells and, potentially, larger business for Render on accounts which grow beyond the freelancer model.

A recent study done by UpWork and the Freelancers Union found that around 57 million Americans were working as freelancers as of 2019. This makes up about 36 per cent of the U.S. work force and amounts to $1.4-trillion in earnings. And according to Forbes the two main freelance platforms registered $137-million (U.S.) of combined revenues in Q2 2020 alone.

"We feel that this platform will lend itself to win-win relationships for customers and freelance editors, alike, as we've seen similar models have success in other industries," says Jeff Mashregi, vice-president of operations for YDX. "We currently have an ecosystem of editors and we are currently turning down customers who may not have the budget for our base services. We would love to maintain the business, but the numbers don't make sense at the rates these customers are looking for. This is what makes Rendervous special; we can provide an environment to capture some of these revenues, while supporting our editors with additional income opportunities to the success of the customer's budget. I view this as a win-win-win."

In related news, Render USA has formally hired Lynnie Wood as its general manager. Ms. Wood has been with the business for quite some time, originally assisting with Render U.K. In Ms. Wood's new role, she will be overseeing Render USA's operations and managing its teams and key accounts.

"I'm proud to be part of the team as an employee," says Ms. Wood. "My past leadership experience will be an invaluable asset in supporting our editors and managing the relationships with our customers. I'm looking forward to growing this great company and building something amazing."

About YDX Innovation Corp.

YDX Innovation is a global leader in the commercialization of immersive new technologies that incorporate virtual reality, augmented reality, e-sports and gaming. Its core business seeks to monetize through licensing its IP, developing interactive exhibitions, and through e-sports tournaments and content.

Purple Mage Advisors (PMA) is a research and data analysis firm that specializes in player recruitment and development in the gaming industry. PMA helps e-sports and gaming companies with industry reports, player recruitment, player training, data analysis and relevant statistical reporting.

Arkave VR Arena is a proprietary gaming platform that brings location-based virtual reality to any location-based event or entertainment centre. Arkave features state-of-the-art free roam technology coupled with a vast library of both in-house and third party games.

YDreams Global has developed over 2,000 interactive and immersive experiences for some of the largest global brands including Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes-Benz, Coca-Cola, Santander, AB InBev, Qualcomm, Unilever, Fiat and the City of Rio de Janeiro.

Render is a professional video production studio specializing in crafting video content for YouTubers, streamers, teams and brands. Render is highly specialized in gaming content, but also works with a wide variety of digital media.

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