CJ ENM acquires stake in U.S. metaverse studio Hyperreal

Lim Chang-won Reporter() | Posted : May 2, 2022, 11:04 | Updated : May 2, 2022, 11:04

[Courtesy of Hyperreal]

SEOUL -- Through a strategic investment aimed at strengthening content production capabilities, CJ ENM has acquired a stake in Hyperreal, a U.S. metaverse studio and entertainment producer that creates digital humans in visual effects studios. The South Korean media company that created the Oscar-winning film "Parasite" anticipates synergy when Hyperreal's technology is applied to its content library.
 
The size of CJ ENM's investment was not disclosed. CJ ENM gained access to Hyperreal's visual effects (VFX) technology, particularly in the deployment of high fidelity digital humans, that is used to create outstanding metaverse entertainment experiences. 

CJ ENM said it would have access to Hyperreal's "hypermodel" technology, an ultra-realistic 3D digital human. The hypermodel is interoperable across digital platforms including mobile, interactive applications, augmented reality, virtual reality, social media, and immersive screen displays. It is capable of becoming animated nun-fungible tokens that are adaptable and customizable to create uniquely collectible assets. 

 "We will continue to invest and form strategic partnerships to secure technology that will increase our global competitiveness and serve as new growth engines," CJ ENM CEO Kang Ho-sung said in a statement on May 2. 

 While Hallyu (Korean cultural wave) content including K-pop, K-drama and K-film has mesmerized the global audience, the country's content production industry is still old-fashioned. Films and dramas are mainly produced by medium-sized companies that operate tiny studios. Buoyed by the growing popularity of its content, CJ ENM with some 20 popular cable TV channels has launched an aggressive push for content production targeting the global market.

 CJ ENM has built South Korea's largest studio that can virtually produce films and dramas using the technology of Epic Games, an American 3D game engine company. CJ ENM will develop content and VFX technologies. Epic's visual content creation technology, "Unreal Engine," was used in the production of many Hollywood content and video games.
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