[Asia Economy Reporter Hyungsoo Park] Giantstep is rebounding after three days. After a decline due to sell-offs for profit-taking following a short-term surge, buying momentum is gathering again.
As of 9:51 a.m. on the 23rd, Giantstep is trading at 94,400 KRW, up 4.89% from the previous day.
Giantstep's stock price, which had risen to 113,100 KRW on the 20th, fell to 90,000 KRW the day before.
Mark Zuckerberg, CEO of Facebook, revealed a detailed vision for the metaverse in an interview with the U.S. IT media outlet The Verge on the 22nd (local time). He said, "The metaverse is a very vast topic," and "The metaverse is the successor to mobile internet." He added, "Many people think the metaverse will simply be a part of gaming, but it will go beyond that," and "I believe the metaverse will be a major part that opens the next chapter of the technology industry."
Zuckerberg also stated that he intends to make Facebook itself a company that implements the metaverse. He said, "In about five years, people will think of Facebook not as a social networking service company but as a metaverse company."
The positive outlook on metaverse growth is interpreted as a factor behind the rebound in Giantstep's stock price.
Researcher Lee Hye-in of Yuanta Securities explained, "We expect benefits from the growth of the immersive content market," adding, "The domestic immersive content market is expected to grow from 604.8 billion KRW in 2019 to 5.8 trillion KRW in 2023."
She forecasted, "It will grow explosively with an average annual growth rate of 76%, and the software and content markets, which are the front markets of Giantstep's real-time content business, will reach about 3.7 trillion KRW in 2023."
Lee emphasized, "Giantstep is well-equipped with personnel, infrastructure, and references," and "It is evaluated to be able to respond to the explosive growth of the real-time content market in the future."
She added, "The real-time engine utilization capabilities that Giantstep has proactively secured are among the competencies required in the immersive content market," and "GX-Lab, established in 2016, is the largest dedicated research and development department for real-time engine graphics technology in Korea."
She continued, "Since Giantstep's absolute sales level is low, it is expected that its sales growth rate will be faster than Roblox and Unity for the time being," and "Various real-time content (XR Live, virtual characters, etc.) being developed with partner companies will be unveiled in the second half of this year."
In its quarterly report, Giantstep anticipated that its core products, the real-time virtual character solution and hybrid real-time rendering solution, will compete with global companies such as Digital Domain (USA) and Star Labs (USA).
Giantstep introduced itself as the only domestic VFX company to have passed ▲Disney Audit (2016) ▲Netflix 4K technology test (2018) ▲TPN (Trusted Partner Network) security evaluation program (2019). Its competitiveness lies in having the largest domestic real-time graphics core technology development personnel stationed in the research and development (R&D) department, strengthening the gap in world-class virtual human technology and content technology. Additionally, it introduced itself as "the only XR content studio group in Korea, having established an internalized planning and production system (Giantstep, Big In Square) and transmission system (Kima Systems)." Among domestic companies, it uniquely secured outstanding connectivity between real-time graphics technology and artificial intelligence (AI) technology.
Giantstep's real-time virtual character solution holds proprietary patents, giving it a comparative advantage over other companies. The virtual human "Vincent" created using this method is based on a single-camera system and also possesses an AI data solution, enabling a production time reduction of more than 40% compared to existing production methods.
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