Indiana Patent of the Month – November 2024
Flying Eye Reality, Inc. has redefined how we engage with digital and physical spaces through their innovative method for managing an augmented reality (AR) social media platform. This platform merges the virtual and real worlds by enabling users to lease, interact with, and display virtual assets tied to specific real-world locations. Imagine walking through a bustling cityscape where virtual stores, ads, or promotional events dynamically appear based on your surroundings. This groundbreaking concept transforms AR into a vibrant social and commercial ecosystem.
At its core, the platform maps virtual subdivisions to real-world areas, allowing users to lease these spaces and create virtual experiences visible through AR interfaces. Businesses and individuals alike can showcase products, host events, or provide services within these virtual realms. For example, a café might lease a virtual storefront to highlight daily specials visible to AR users passing by.
Flying Eye Reality’s invention doesn’t stop at static displays. The platform dynamically adapts based on real-world traffic patterns and demographics, optimizing content visibility for maximum engagement. Virtual leases can be reassigned temporarily to high-traffic areas, ensuring businesses remain agile in their digital marketing strategies. Additionally, shared inventory features and pop-up graphics provide seamless access to detailed product information and purchasing options, blending e-commerce with the physical retail experience.
This innovation paves the way for a new era of digital interaction, where AR serves as both a creative outlet and a powerful commercial tool. By transforming how we perceive and interact with our surroundings, Flying Eye Reality, Inc. is not just managing AR—they’re shaping the future of connected spaces.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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