NetworkNewsWire
Editorial Coverage: The COVID-19 pandemic has reached a
benchmark in the United States, topping 15 million cases as the
death count exceeds 285,000. The pandemic has transformed the world
in many ways, including bringing digital technologies to the
forefront of a socially distanced world. In this space,
Loop Insights Inc. (TSX.V: MTRX) (OTCQB: RACMF) (Profile) recently made history as the
first-ever, end-to-end venue-tracing and management solution. A
provider of contactless solutions and artificial intelligence aimed
at driving automated marketing, venue management and tracing to the
brick-and-mortar space, Loop gained national attention for its
“bubble,” which allowed NCAA basketball to play on in Nevada and
Florida. Pairing Loop Insights’ venue-tracing platform with revised
safety protocol allowed games to be played at multiple venues
without a single case of COVID-19 reported. Loop Insights, which
calls ecommerce juggernaut Amazon.com Inc. (NASDAQ: AMZN)
an investor and
partner, joins majors such as The Walt
Disney Co. (NYSE: DIS), one of the world’s largest
producers of entertainment; Alphabet
Inc. (NASDAQ: GOOGL), the parent company of tech
behemoth Google; and cruise ship operator Carnival
Corp. (NYSE: CCL) in the fight to get the economy back
safely operating at full capacity while protecting guests,
entertainers, and employees at the same time.
- Bubble technology is evolving to facilitate re-opening of live
events, salvage fleeting revenue without spectators.
- Loop Insights’ all-inclusive bubble venue technology validated
at two separate NCAA basketball tournaments.
- Potential applications for Loop technology is nearly unlimited,
provides safety at live events, including sports, conventions,
concerts, cruise and airlines, schools, film sets and more.
Click here to view
the custom infographic of the Loop Insights editorial.
Bubble Becomes Everyday Vernacular
Being put “in a bubble” used to be a phrase reserved for people
living in the most serious of situation. Today, it is an everyday
term and, in fact, a point of focus as companies consider “travel
bubbles,” “work bubbles,” “sporting bubbles,” etc.
At first thought to be an unrealistic and costly approach, the
NBA proved the bubble to be an extremely efficient strategy to
complete its 2020 season. Relying on the bubble, the association
was able to salvage $1.5 billion in
revenue that would have been lost if the season has been canceled.
After losing nearly $1
billion by scrapping the popular March Madness tournament this
year, the NCAA is looking to avoid a repeat.
Safeguarding All Involved
The NCAA has conclusive evidence that a bubble is effective
after recently turning to Loop Insights
Inc. (TSX.V: MTRX) (OTCQB: RACMF) and its turnkey
venue-tracing solution. The organization executed not one but two
bubbles to safeguard all involved in basketball games held during
10 days in Nevada (#VegasBubble) and Florida (#BeachBubble).
The Loop system, consisting of all the requisite hardware,
software, rapid mobile testing and integrated lab results, simply
requires users to register and receive a wallet pass on their
mobile phones and then tap in at supplied contactless devices, with
location-based beacons, GPS and Internet of Things (IoT) technology
taking it from there. The system is infinitely scalable and has
demonstrated high adoption rates compared to other apps because it
doesn’t require users to use any additional hardware or software.
The system utilizes a user’s mobile wallet, which is already
integrated into their mobile device. Loop uses this same near-field
communication (NFC) technology backed by Apple and Google.
All collected data is de-identified and securely stored in
Loop’s data portal where its artificial intelligence (AI)
technology displays detailed venue insights such as movements,
active users, occupancy levels, promotions and more. Loop’ s
real-time messaging, keep users up-to-date on critical information,
including which individuals are at risk or in need of a COVID-19
rapid test.
The Whole World Was Watching
The entertainment business has been decimated by COVID-19. Going
forward, teams, schools, leagues and ancillary businesses that
depend on sports simply cannot afford to see seasons canceled. Loop
partnered with bdG Sports, one of the nation’s leading content
providers in college basketball programming, and worked closely
with the NCAA and host sites to ensure best practices under new
health and safety protocols.
As it happened, the #BeachBubble implementation represented the
first-ever,
end-to-end COVID-19 venue solution in a live environment. Given the
pent-up demand for live events, a new standard to open doors again
will be widely cheered. This complete and ready-to-deploy solution
has garnered greater attention as a result of Loop’s bubble
success.
To that point, the whole world was watching to see how Loop’s
technology would perform when challenged to protect players and
staff for a barrage of men’s and women’s Division I games being
played at MGM Grand Garden Arena, Mandalay Bay Events Center and
T-Mobile Arena in Las Vegas along with games at Hertz Arena and
Alico Arena (FGCU), as well as lodging at the Hyatt Regency in Fort
Meyers, Florida. The technology did not disappoint.
With 100% success, the empirical data showcased the thoroughness
of the system. In the words of Loop, “[We] hit it out of the park”
and demonstrated the bubble solution “is nothing short of
world-class.” First to market and armed with these successes,
Loop management
says it is already engaged in negotiations to re-open major
sporting events from North America to Australia in 2021.
Moreover, Loop’s system did not suffer any outages, and user
experiences proved to be as seamless as anticipated. The
#BeachBubble alone over seven days consisted of:
- Total locations: 14
- Total enrolled users: 553
- Total check-ins: 3,830
- Tracing checks: 2 highly detailed reports were generated in 15
minutes for potential infected cases, with both tests confirmed
negative.
“Loop’s venue bubble platform has provided us with the peace of
mind to move forward with our return-to-play efforts in college
basketball safely,” said bdG Sports CEO Brooks Downing. In addition
to safety and providing an aggregated report on activity via the
Insights platform, companies obtain a competitive marketing edge
because the data drives Loop’s Engage platform to generate real-time targeted
promotions to event attendees.
Not only did Loop enable the NCAA bubbles to happen, the company
provided new revenue streams to sponsors. Integrating highly
targeted promotions into Loop’s venue-tracing wallet pass allowed
event sponsors to offer personalized promotions to the event
attendees.
This innovative technology could mean the return of live sports,
conventions, concerts and festivals. Loop recently partnered
with SimpliFlying, noting that discussions about possible uses have
“significantly advanced” to offer fully integrated rapid testing,
tracing and notifications.
Contact Tracing Moving Mainstream
The debate about the safety of the vaccine combined with
people’s willingness to participate in the vaccine means that
contact tracing and other efforts to keep businesses open is
becoming mainstream.
The Walt
Disney Co. (NYSE: DIS) is taking a leadership role
regarding tracing technology. Between owning ESPN and hosting more
than 157 million
people at its theme parks annually, the company has been stung
by COVID-19 shutdowns and has good reason to leverage technology
wherever available. When it comes to sports, it was Walt Disney
World in Florida that was home to the isolation zone, or the Disney
Bubble as it was affectionately dubbed, to complete the 2019–2020
NBA season that had been suspended in March due to the coronavirus
outbreak.
Alphabet
Inc. (NASDAQ: GOOGL) rightfully has a place at the
contact tracing table, with its Google unit as the largest data
aggregator in the world. Google has been working vigilantly with
tech peer Apple to get a co-developed contact tracing app on mobile
devices throughout the United States. Challenged by Americans
somewhat unwilling to install the app, the company took a big step
forward in December when California Gov. Gavin Newsom declared a
statewide launch of
the app.
Carnival
Corp.'s (NYSE: CCL) hospitality business has been
deeply hampered by COVID-19 throughout 2020, even canceling cruises
scheduled to set sail early in 2021. With its ships docked,
Carnival was reportedly burning through about $200 million
per month, clearly qualifying it as a company desperate to see the
economy re-open and the CDC no-sail order lifted. Carnival has
worked with the Cruise Line Industry Association (CLIA) to
establish safety protocols,
including all patients being rapid tested prior to embarkation, in
preparation for its ships to had to top tourism destinations
again.
Amazon.com Inc. (NASDAQ: AMZN) is the
world’s largest e-commerce data company. Akin to the manner in
which it dominates online retail sales, its Amazon Web Services
unit is the 700-pound gorilla in the cloud infrastructure market,
owning a 45% share in 2019. During the third quarter, AWS generated
$11.6
billion in revenue as it benefited from demand for
“stay-at-home” companies that use its platform, such as Zoom. AWS
plays a critical role in contact tracing as well, helping
governments and organizations track the virus and providing
services for companies to scale up tools used to investigate and
confirm cases of COVID-19.
Certainly, there’s reason to feel optimistic about the end of
the pandemic coming sometime in 2021. But even if the crisis can be
quelled by the end of June, the world is looking at another six to
seven months of focused concentration on staying safe. In addition,
the technology and protocols established during the past year will
likely have widespread application in broad applications moving
forward.
For more information about Loop Insights, please visit Loop
Insights Inc. (TSX.V: MTRX) (OTCQB: RACMF).
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