New Paradigm Investment Makes Seed Investment in Art Metaverse Startup 'Mim'

From the left, Bae Sangseung, Co-CEO of New Paradigm Investment, Kim Hwijae, CEO of Moom, Park Jehyeon, Co-CEO of New Paradigm Investment.
[Photo by New Paradigm Investment]

[Asia Economy Reporter Junhyung Lee] New Paradigm Investment announced on the 22nd that it has selected the art metaverse startup 'Mium' as the first investment destination of its 11.1 billion KRW 5th fund and has made a seed investment. New Paradigm Investment's 5th fund is established to discover and nurture promising startups in new industries such as artificial intelligence (AI) and big data.

Mium is a startup that developed the metaverse exhibition space platform 'Mium.' It operates an online exhibition hall where 3D works such as sculptures can be displayed. According to the company, Mium recently surpassed 300 artist members and 1,000 total members. Creators can arrange their works in their own studios within the platform and can also play background music.

Mium's target market is the virtual reality (VR) and augmented reality (AR) content market in the art field. The company also helps solve artists' financial difficulties and legal issues related to copyrights. The company explains that creators can expect revenue by selling images of their works as data.

Kim Hwijae, CEO of Mium, said, "We will renew Mium with the funds raised through the seed investment," adding, "Our strength lies in quickly developing services that are easy for creators to use by enhancing user convenience."

Park Jehyeon, CEO of New Paradigm Investment, said, "We hope it will grow into a global platform that presents vision and direction to the exhibition market, which has been stagnated due to COVID-19, through metaverse exhibitions of art works."