[Asia Economy Reporter Hyungsoo Park] YJM Games is showing strong performance. As Roblox stock prices surge sharply in the U.S. stock market, interest in the metaverse appears to be growing again. Roblox, which sparked a metaverse craze in the domestic stock market at the time of its listing, recently surpassed $80 per share, setting a new all-time high since its IPO. American teenagers spend more time in the metaverse (Roblox) than on Instagram or YouTube. Market research firm Statista predicts that the global extended reality (XR) market, valued at $30.7 billion this year, will reach $296.9 billion (approximately 336 trillion KRW) by 2024.
As of 10:17 AM on the 25th, YJM Games is trading at 2,280 KRW, up 13.15% from the previous day.
YJM Games announced plans to establish One Universe and position itself as a metaverse-specialized company encompassing metaverse, virtual reality (VR), and blockchain.
One Universe was established mainly by One Immers, an affiliate of YJM Games that has played a leading role in the VR industry since 2016. The company plans to leverage YJM Games’ existing business experience and VR know-how to expand its operations.
One Immers is the largest VR developer in Korea, with experience providing 10 types of self-developed content across more than 200 stations in 10 countries worldwide. It has export experience of VR content to North America, China, Europe, and has secured numerous partners. One Universe plans to integrate One Immers’ strengths, including patents related to VR motion sickness and UI/UX.
Action Square, which possesses specialized Unreal Engine development skills demonstrated through titles such as ‘Blade’, ‘Blade 2’, ‘Samguk Blade’, and ‘ANVIL’, and has experience developing Netflix’s ‘Kingdom’ project, bringing know-how in linking various industries and IPs central to the metaverse, will newly participate to continue development synergy.
Baek Doosan, the new CEO of One Universe, graduated from Seoul National University College of Engineering and joined Nexon in 2005. He served as the overseas general director for ‘MapleStory’ and technical director for ‘MapleBlitzX’. CEO Baek is a development expert with 15 years of experience, rich understanding of the gaming industry, and multiple successful projects. He also serves as CTO (Chief Technology Officer) of Action Square.
Based on the know-how and core technologies of each company, One Universe will advance ‘Project Symphony’, a project that allows various activities in the metaverse space within the VR platform developed by One Immers, and will focus on new projects based on MetaHuman technology.
CEO Baek said, "There is global attention on the metaverse market recently. One Universe, a metaverse-specialized company, plans to expand its business in earnest through the synergy of One Immers’ VR know-how, Action Square’s development capabilities, and strengthening global partnerships."
He added, "We will broaden access opportunities to the metaverse market and create a business model that forms a new metaverse ecosystem."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
