Ate1 "Grid, Decides on 2.5 Billion Investment... Metaverse Platform 'Moim' to Launch Within the Year"

[Asia Economy Reporter Hyunseok Yoo] EightOne announced on the 16th that it has acquired convertible bonds worth 2.5 billion KRW issued by its 100% subsidiary, Grid, which is preparing for the beta service of the metaverse platform ‘Moim (MOIM)’.

Grid is a specialized metaverse platform development subsidiary fully funded with 2.5 billion KRW capital by EightOne, aiming to develop a metaverse platform. Choi Cheolsun, CEO of EightOne and concurrently CEO of Grid, emphasized securing technological capabilities by composing 100% of the employees as platform development personnel from the establishment of Grid and striving to recruit top-tier experts in the industry.

EightOne has continuously expanded its metaverse new business by maintaining collaborative networks with global VR companies such as Pico Interactive and Oculus. The launch project of the proprietary metaverse platform ‘Moim (MOIM)’ initiated this year through the establishment of Grid is currently in the final completion review stage ahead of the beta service. EightOne plans to expedite the launch timing of the metaverse platform ‘Moim (MOIM)’ and actively commence sales efforts.

The metaverse platform ‘Moim (MOIM)’, developed independently by Grid, is specialized in non-face-to-face conference functions such as education, meetings, and forums in an online virtual space. The company plans to evolve it into an open platform by increasing user experience elements through infinite expansion into various fields such as exhibitions, screenings, and viewings, which are advantages of the metaverse platform.

Choi Cheolsun, CEO of EightOne, stated, "The metaverse platform ‘Moim (MOIM)’, developed independently through our subsidiary Grid, will showcase its beta version soon and start official service within this year.” He added, “Considering the exponentially growing future metaverse market demand, we expect to establish it as a differentiated metaverse platform by leveraging comprehensive compatibility across operating systems and various yet-to-be-disclosed distinctive features as strengths.”