[Asia Economy Reporter Kang Nahum] Investments by domestic and international IT companies in virtual reality (VR), a core component of the metaverse ecosystem, are rapidly increasing. These companies are either directly developing VR technology or establishing and acquiring development firms. Competition to secure a leading position in the emerging metaverse market, seen as a future growth engine, is intensifying.
◆ Aggressive investments by domestic game companies = Among domestic companies, Com2uS stands out most prominently in VR investment and technology development. According to industry sources on the 2nd, Com2uS recently established Com2uS Roca, a game-specialized development company, and officially entered the global VR content market.
Going forward, they plan to strengthen market competitiveness by introducing differentiated titles tailored to next-generation VR devices and platforms, such as new-concept massively multiplayer online (MMO) VR games.
They have also begun developing new VR games targeting the global market. The currently planned new title is an RPG genre game aimed at VR users in Western regions such as North America, featuring easy controls, simple growth elements, and immersive action.
Cooperation with partners such as WYSIWYG Studios, a metaverse company acquired by Com2uS in August, is also underway. Com2uS plans to establish a multilateral cooperation system to create mega IPs by converting existing original intellectual properties (IPs) into VR-based metaverse content.
Netmarble’s subsidiary Netmarble F&C established Metaverse Entertainment in August. The company focuses on developing virtual reality platforms and managing virtual idols, producing and servicing metaverse content linked to games.
Recently, they formed a strategic partnership with Kakao Entertainment to accelerate the development of global-targeted virtual idol businesses and metaverse content. Their first project is a K-pop virtual idol group.
Metaverse Entertainment, currently developing characters, plans to debut an idol group next year composed of characters with a unique worldview and distinct personalities.
◆ Overseas companies armed with VR hardware = Meta (formerly Facebook) has long focused on VR technology development and investment. They acquired VR company Oculus in 2014 and launched the beta service of the VR-based SNS platform ‘Horizon’ in 2019, actively investing in the metaverse business. Recently, they also acquired Within, the maker of the popular VR fitness application ‘Supernatural’.
Supernatural is an app where users perform full-body workouts by hitting colorful orbs flying toward them using controllers in various VR environments such as oceans and deserts. It can be used while wearing Meta’s VR device, the Oculus Quest headset.
Meta is also preparing to launch the premium VR headset ‘Cambria.’ Cambria can operate as a high-resolution mixed reality (MR) headset. According to Meta, it features sensors that realistically reconstruct the physical world around the user.
Apple is preparing to release a mixed reality (MR) headset around next year. This headset is expected to support both AR and VR functions, enabling high-quality virtual reality gaming. It is anticipated to be equipped with Apple’s recently released in-house chips such as the M1 Pro.
It is also expected to include features such as eye-tracking, 15 cameras, and a LiDAR scanner for distance measurement. The competition with Meta’s Oculus Quest 2 and Cambria is noteworthy. The Oculus Quest 2 holds a 53% share of the global market.
The reason companies are fervently developing and investing in VR technology is that VR is emerging as a core element of the metaverse ecosystem. An industry insider said, “In the future, technologies that make the metaverse feel like the real world will become important, and VR is an indispensable technology to realize this. Companies focusing on the metaverse will see even more investments going forward.”
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