[Click eStock] "Dexter, Expecting Evolution of Yumi's Cells VR Metaverse Platform"

[Asia Economy Reporter Yoo Hyun-seok] ResearchAlum on the 8th expected Dexter to benefit from the increasing popularity of virtual reality (VR) and augmented reality (AR) devices. The appropriate target price was suggested to be 11,000 KRW.

Founded in 2011, Dexter is a visual effects (VFX) specialist company. VFX refers to the process of creating scenes that are difficult to film directly, such as creatures not existing in the real world or natural disasters, through computer work. Dexter was responsible for VFX work in movies such as the "Along with the Gods" series, "Baekdusan," and the drama "Arthdal Chronicles." It produced 70% of the total VFX volume of "Space Sweepers," which ranked first in 28 countries within two days of its Netflix release. Recently, Dexter has been actively producing VR content, including signing a content supply contract with a theme park in Hainan, China.

Researcher Kim Do-yoon of ResearchAlum explained, "Facebook's subsidiary Oculus' VR device 'Quest 2' sold over 1 million units worldwide in the fourth quarter of last year," adding, "It is expected to sell over 3 million units this year."

He continued, "In Korea, after SK Telecom started selling it last February, the first batch was sold out within three days," and added, "The second batch sold out in four minutes."

According to market research firm IDC, shipments of VR and AR devices are expected to increase from 8.6 million units this year to 52.9 million units by 2025.

Researcher Kim emphasized, "Since 2015, Dexter has produced various genres of VR content such as cinematic VR 'White Rabbit,' VR toon 'Please Save Me,' and VR animation 'From the Earth.' Dexter's VR toon 'Zone of Mourning' was the only Korean work officially invited to the New Frontier section of the 35th Sundance Film Festival."

He introduced, "Dexter is already recognized for its world-class technology," and added, "Recently, it has expanded its production area to VR games, with upcoming releases of 'Yumi's Cells VR' and 'Along with the Gods VR - Escape Room.'"

Furthermore, he expressed expectations, "Yumi's Cells VR is a metaverse platform where users can create stories together through simultaneous access, enabling community formation, which is expected to attract significant interest."