OliveX (NSX: OLX) has signed an agreement with telecommunications operator Hong Kong Broadband Network (HKBN) to advance its flagship Kara Smart Fitness App in the lucrative Asian market.
The fitness technology subsidiary of delisted blockchain player Animoca Brands Corporation will partner with HKBN to bring Kara Smart Mirror to more than 880,000 residential broadband subscribers and a network of over 2.4 million households in Hong Kong and the Asia-Pacific region.
Under the agreement, HKBN will initially purchase a minimum of 1000 Kara units for its customers who will receive bundled pricing for on-demand access to OliveX’s immersive fitness content.
OliveX and HKBN will jointly develop new content to be made available to all Kara users, advancing OliveX’s strategy for artificial intelligence-based personal coaching with guest appearances from fitness celebrities and influencers.
The companies also propose entering into a longer term agreement within three months to further consolidate their collaboration and provide the OliveX home fitness solution more fully to HKBN customers and their subsidiaries.
Keith Rumjahn, CEO of OliveX, was confident the agreement would help accelerate Kara’s rollout in the Asian market.
“We will immediately generate income from the sale of Kara Smart Fitness Mirror, which will be included in the quality catalog [technology] Products that HKBN and its subsidiaries offer their customers, ”he said.
“The associated opportunities for profiling and brand awareness are enormous … we are [already] in advanced conversations with influencers to develop new and exciting workouts for our clients led by celebrities. “
Spin-off from Animoca Brands
The digital lifestyle company OliveX was founded as a spin-off from Animoca Brands to specialize in the development of innovative products and applications based on artificial intelligence, gamification and premium content.
The company was listed on Australia’s National Stock Exchange in August following a heavily-supported public offering that raised $ 2.1 million at $ 0.20 per share.
Kara Smart Fitness aims to deliver world-class, on-demand health and fitness content and courses from prominent trainers and wellness influencers around the world.
The application and associated Smart Mirror technology provide consumers with a comprehensive fitness solution for the home and enable coaches and brands to engage directly with their target market.