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Nov 14, 2016 01:47 PM EST

IMAX Reveals $50M Investment To Popularize Virtual Reality Like Google, Facebook; 'Doctor Strange' IMAX 3D Reprocessed For Enhanced Sharpness

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IMAX is reportedly ready to invest in Virtual Reality projects including films and video games. The company is said to seek video game publishers with its Hollywood studio and filmmaker partners. The company's investment is also said to be related to the upcoming VR Entertainment hubs that IMAX is allegedly planning to create.

IMAX reportedly aims to make VR more popular with a $50 million investment fund on VR projects. In addition, other companies are also said to invest in the fund including Acer, Creative Artists Agency, China Media Capital, Enlight Media and the British advertising firm WPP. The fund is also said to create more VR content.

However, IMAX is yet to reveal what projects it would invest in. The fund is reportedly connected with IMAX's VR entertainment hubs to be revealed in movie theaters and shopping malls in the US, UK, China, Middle East and other parts worldwide. This move is said to be a key step in securing more high-quality content on VR platforms like the IMAX VR centres.

Other companies like Facebook and Google reportedly view Virtual Reality technology as a future big business. On that note Facebook and IMAX is said to be working to make VR more mainstream. Facebook already pledged $250 to the development of VR software, Fortune reported.

In other news, a new IMAX featurette reportedly revealed "Doctor Strange" being brought to life in IMAX 3D. The video reportedly features three essential crew members from the film including visual effects supervisor Stephane Cerutti. The stereoscopic supervisor Evan Jacobs and executive producer Victoria Alonso were also presented in the featurette, Flickering Myth reported.

IMAX has reportedly taken "Doctor Strange" and reprocessed it to reduce the noise, enhance the presentation on every shot and increase the sharpness. The movie has recently been released featuring Benedict Cumberbatch as Stephen Strange. "The Day the Earth Stood Still" director Scott Derrickson directed the film. Watch IMAX bringing VR to movie theaters (CNET Update)

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