[Asia Economy Reporter Hyungsoo Park] NP is showing strong performance. Participating in the '2021 K-Expo' held at COEX in Seoul, it showcased its extended reality (XR) technology, which appears to be influencing its stock price. The continuous rise in Giant Step's stock price, with its market capitalization surpassing 1.4 trillion KRW, is also interpreted as stimulating investor sentiment. Hana Financial Investment identified NP's core as extended reality (XR) technology that can be linked with the metaverse, citing Dexter, Giant Step, and Maxst as its peer group.
As of 11:21 AM on the 16th, NP is trading at 14,950 KRW, up 15.0% from the previous day. During the session, it rose to 15,100 KRW, setting a new post-listing high.
NP's largest shareholder is Wysiwyg Studios, holding a 37.15% stake. Including shares held by special related parties, the largest shareholder group's stake amounts to 68.21%.
NP Studio, a subsidiary of Wysiwyg Studios responsible for the computer graphics of the Netflix original 'Space Sweepers,' introduced the 'NP XR Stage' technology. XR stage technology can create realistic spaces like newsrooms or virtual spaces used as music video backgrounds without building physical sets. As it is a real-time interaction technology implemented without spatial or temporal constraints, it composites products or people into pre-made virtual spaces to deliver live broadcasts in real time.
In March, NP opened Korea's first permanent XR studio. It has worked on K-pop group music videos, untact XR concerts for major hip-hop labels, and global fan meetings for the variety show 'Running Man.' It is also entering the virtual influencer market by participating in new product launches of large corporations and various year-end award ceremonies. In the context of COVID-19, where spatial restrictions are significant, XR studio production environments are gaining attention.
An NP representative said, "XR technology is about live-rendering the virtual spaces where users roam in the metaverse," adding, "There is strong interest not only from Netflix but also from domestic broadcasters."
NP established a joint venture called YN C&S together with Naver, YG Entertainment, and Wysiwyg Studios. The joint venture is a corporation engaged in developing advanced studios. It is designed to enable live streaming, advanced content production, and XR content creation within the studio. The plan is to develop diverse content not only for brand experiences but also in the entertainment and media sectors.
NP invested in the digital marketing company Pentabrid. As the virtual influencer market rapidly grows worldwide, NP plans to create virtual influencers by combining XR technology with Pentabrid's video technology and various content technologies.
Park Sang-jun, CEO of NP, recently stated in an interview with the media, "NP's mid-to-long-term roadmap has two main focuses," introducing, "The first is to expand overseas by leveraging NP's know-how in brand experience and XR technology." He added that NP is actively discussing overseas expansion with foreign clients. He continued, "We plan to expand our business areas gradually by utilizing XR technology not only for various metaverse projects but also for the entertainment business."
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