Bucket Studio Combines Metaverse, NFT, and Commerce... Leveraging Bithumb's 6.8 Million Members and Coin Integration Strengths

[Asia Economy Reporter Hyungsoo Park] Bucket Studio, the top largest shareholder in the governance structure of the commerce specialist company and Bithumb, is launching ‘Bithumb Live’ with the cryptocurrency exchange Bithumb.

On the 13th, Bucket Studio announced that it will invest 6 billion KRW in Live Commerce, which operates the live commerce platform The Rip. It will invest 500 million KRW to acquire existing shares and 5.5 billion KRW in new shares. The company explained that Bithumb Korea will also invest under the same conditions, making the two companies joint largest shareholders holding 75% of the shares (37.5% each).

Bithumb Live will be located in Bucket Studio’s own building, Initial Tower 1, at the Kyobo Tower intersection in Gangnam-gu, Seoul.

New executives have also been recruited to lead Bithumb Live, which combines metaverse, NFT, blockchain, and commerce. Han Sunghee, currently Bithumb COO (Chief Operating Officer), who previously worked as a planning and operations PM at Samsung Electronics and as UX head at Delivery Hero, which operates Yogiyo, was appointed CEO. Lee Yoonkoo, who served as head of the CJ HelloVision TVing tech group and SK Broadband platform development manager, joined as CTO (Chief Technology Officer). Cho Hyunsik, currently Bithumb Vice President and former team leader of NCSoft’s service planning team, head of Naver’s core game division, and head of NHN’s business development group, was appointed as a registered executive and joined Bithumb Live.

Bucket Studio CEO Kang Jiyeon will serve as the sole CEO of Bithumb Live and plans to lead Bithumb Live together with the industry’s top executives. He said, “By linking with the cryptocurrency exchange Bithumb’s 6.8 million members, coins, Bithumb Cash, and through synergy collaboration and strategic partnerships with various companies, we will quickly take the lead in the Fourth Industrial Revolution.”

The existing The Rip live commerce platform will be newly renewed and massively updated to be introduced as Bithumb Live, the first in Korea to incorporate metaverse, NFT, blockchain, commerce, and cryptocurrency payment.

CEO Kang Jiyeon introduced, “Bithumb Live has created Korea’s first metaverse complex commerce platform by introducing metaverse, NFT, blockchain, commerce, and cryptocurrency payment.” He added, “We will change the existing company name Bucket Studio to Meta Commerce to solidify the identity of our core business.”

Furthermore, he said, “We will innovatively lead each business with specialized executives and achieve gradual growth,” and “We will become a leading company in the metaverse, NFT, and commerce markets, which have recently become global hot topics.”