So what is the Metaverse? The Metaverse refers to a virtual universe that may mimic and improve real-world events. Even though this vision is straight out of science fiction, technology companies have invested significant amounts of money in R&D to make it a reality. While most know about Facebook moving into the Metaverse space by changing its name to Meta, big Korean companies like Naver and SK Telecom are investing heavily into the Metaverse resulting in even more Metaverse content.
As the Metaverse becomes more popular, content creators are looking for ways to capitalize on this new industry. Luckily, there are startups in South Korea that are providing Metaverse content for the virtual world.
Also, check out our article on animation startups in Korea, as many support Metaverse content creators.
Startups Providing Metaverse Content
VA Corporation
VA Corporation is a visual effects production startup. They are a one-stop virtual media platform that focuses on providing content for the metaverse industry. The startup opened a virtual production studio, VA Studio Hanam, which covers 15,000 square meters in Gyeonggi Province. The studio allows 3D virtual production using special effects, creating realistic content. They are estimated to be valued at over $1 billion, making them a potential Korean unicorn. VA Corporation raised $80 million last year from the private equity fund Paratus Investment Inc.
Gaudio Lab
Korean VR startup – Gaudio Lab is the creator of a Gaudio Sol SDK, an audio software development kit. Their software can be used to incorporate interactive sound into 360-degree content. The Gaudio Sol SDK is a binaural renderer that supports First Order Ambisonics, Higher-Order Ambisonics, and the company’s GA5 audio format. In addition, it has low latency and does not put a strain on low-end devices. They offer interactive, immersive, and data-rich sound experiences.
“Livestreaming, high-fidelity spatial audio will bring a totally new level of presence to live events. Through the magic of VR, you can now experience the sound of concerts, eSports, and team sports as if you have the best seat in the house,” said CEO and co-founder of G-Audio Lab.
Gaudio Lab showcased the Sol SDK at the Augmented World Expo. In addition, they have gotten funding from Korean VC firms such as Korea Investment Partners, LB Investment, SoftBank Ventures, and Capstone Partners.
Partnership with the Thirteenth Floor
Gaudio has partnered with cinematic VR production company Thirteenth Floor. They plan to work and develop together to deliver hyper-realistic immersive experiences to viewers featuring a new level of quality. The experience will allow for synchronized immersive video and spatial audio that responds to the viewer’s head movement. In addition, this will give a higher level of realism and reduce motion sickness.
Reality Reflection
VR startups in Korea – Reality Reflection is a digital human R&D lab and a VR content studio that can create a 3-D avatar of yourself or other virtual characters. The studio is filled with 160 DSLR cameras that scan the body and faces of people to generate 3D virtual images. The startup also creates an AR game called Mossland by raising funds via an ICO. Moreover, the game allows players to buy and sell virtual property using Moss currency. Therefore, users can own buildings and property they would not in real life.
Reality Reflection won a little over $450,000 in a competition for startups that utilize 5G connectivity. In addition, the startup got funding from 500 Startups, Stonebridge Capital, and SK Telecom. Their focus in 2022 will be to continue to build up their 3D human scanning technology and real-time photorealistic rendering technology. Furthermore, they hope to develop the most realistic AI avatar by 2022.
3i
3i Inc. is an immersive experience startup specializing in AI, AR, and VR technology and the Metaverse. They are the creators of Pivo, a platform business, Pivo Pod, a portable AI-powered smart pod, and many mobile apps that help with content creation. They are also the creators of Beamo, an enterprise-grade digital twin solution for mission-critical businesses and websites. The solution can create a digital twin that allows enterprises to conduct remote inspections, maintain equipment remotely, provide immersive navigation of mission-critical assets, and collaborate with remote teams.
3i is becoming a leader in the B2B digital twin solutions industry. The startup raised $24 million from SV Investment, Korean Development Bank, LB Investment, DS Asset, YG Investment, Enlight Ventures, Intops Investment, Korea Asset Investment Securities, and NBH Capital. The investment will develop new products and expand their Metaverse platform business.
