eXp World Holdings Continues to Innovate and Expand Its Metaverse Offerings

ORLANDO, Fla., June 21, 2022 (GLOBE NEWSWIRE) -- eXp World Holdings, Inc. (Nasdaq: EXPI) has released several new updates to its portfolio of metaverse offerings, which includes Virbela^® and Frame^™. The company is building an ecosystem of immersive technologies and virtual worlds that are redefining the modern workplace.

“As we head into shifting markets, we anticipate companies will be even more mindful of overhead and travel costs to seek greater efficiencies,” said Glenn Sanford, Founder, Chairman and CEO of eXp World Holdings. “Metaverse platforms like Virbela and Frame have the power to help organizations fill that gap and solve today’s biggest workplace challenges, while setting them up for future sustainability and growth.”

Virbela and Frame provide organizations with a virtual environment to operate and create new workflows, extending the power of their physical operations, while building strong workplace culture and community. As an early adopter, eXp Realty has grown to over 82,000 agents and employees, expanded to 21 international markets, and is 10x more efficient than its peers¹ in terms of operating costs since going fully remote and implementing Virbela back in 2016.

New from Virbela
Virbela’s enterprise metaverse platform empowers the world’s most innovative companies to create experiences that foster collaboration and build community for thousands of users – including recruiting, learning and development programs, company meetings, team offsites, industry events and more.

The Virbela team recently launched a newly designed virtual campus, which offers expansive spaces for collaboration, learning and building community. Created to look and feel like a modern city, it’s the most advanced enterprise metaverse available for remote work today. A new diverse avatar system and integration with Zoom will begin rolling out later this year.

New From Frame
Frame continues to push the limits of what can be done in virtual spaces right from a browser across desktop, mobile, and VR. Frame recently announced support for 150 simultaneous users, an integration with Ready Player Me avatars, and several new meeting environments. There’s also a new “Connections” feature that lets you make connections with other people and then easily find them in the metaverse.

To expand access to Frame from within existing enterprise collaboration tools, Frame recently launched the Frame app for the Microsoft Teams App Store, and last month, was showcased at Microsoft Build.

“The way we work has changed. We’re no longer tied to a desk or physical office, and with greater flexibility to work remotely, organizations are seeking new ways to build stronger working relationships that increase productivity, improve employee wellness, while attracting and retaining the best talent,” said Alex Howland, President and Co-founder of Virbela. “We believe the metaverse presents a tremendous opportunity to transform the workplace and we’ll continue to innovate and push the boundaries to help organizations evolve how great work gets done.”

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty^®, Virbela and SUCCESS^® Enterprises.eXp Realty is the fastest-growing real estate company in the world with more than 82,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece and New Zealand and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS^® Enterprises, anchored by SUCCESS^® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com.

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. These statements include, but are not limited to, statements about the continued growth of our agent and broker base; expansion of our residential real estate brokerage business into foreign markets; demand for remote working and distance learning solutions and virtual events; development of our commercial brokerage and our ability to attract commercial real estate brokers; and revenue growth and financial performance. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:

eXp World Holdings, Inc.

mediarelations@expworldholdings.com

Investor Relations Contact:

MZ Group – MZ North America

investors@expworldholdings.com

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1} Mike DelPrete, "eXp's Business Model Advantage," June 17, 2022, https://www.mikedp.com/articles/2022/6/16/exps-business-model-advantage

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