Galaxia Metaverse Partners with Leading Metaverse Exhibition Company 'Rayvillage'

[Asia Economy Reporter Yoo Hyun-seok] Blockchain specialist company Galaxia Metaverse announced on the 18th that it has signed a Memorandum of Understanding (MOU) with arttainment company Rayvillage to secure metaverse exhibitions and non-fungible token (NFT) intellectual property (IP) rights for domestic and international art artists and Hallyu stars.

Through this agreement, Galaxia Metaverse plans to acquire Rayvillage's metaverse exhibition expertise and take the lead in securing IP rights for various artworks. To this end, starting next month, it will gradually expand its content areas from art to entertainment through NFT services.

Rayvillage has been responsible for exhibition planning and art consulting for famous artists such as Ha Ji-won, Ha Jung-woo, and Koo Jun-yeop, and has discovered works by influencers. In particular, as a content specialist company combining global Hallyu content and art, it has planned and operated numerous art exhibitions including LG Signature Art Gallery, Samsung Galaxy Theme Store, Xiaomi, Hyundai Motor Company H-ART Gallery, Amorepacific, and BMW Art Collaboration.

It has also led domestic and international art exhibitions, securing various networks and IP related to art and entertainment. In September, it unveiled digital art works by multi-artist Koo Jun-yeop (KOO) and Korea’s first-generation graffiti artist KOMA.

A Galaxia Metaverse official stated, “Although the metaverse market has grown explosively recently and various domestic and international companies are entering the metaverse market one after another, cases of active metaverse exhibitions are hard to find. We will acquire Rayvillage’s exhibition expertise, which is competitive in the metaverse online exhibition field, and strengthen new businesses by securing IP rights of famous artists’ works and expanding the NFT product area.” He added, “We also expect that receiving commissions from various NFT sales will help improve performance.”

Meanwhile, Galaxia Metaverse is a blockchain business subsidiary of fintech specialist Galaxia Moneytree. Since its establishment in May, it has secured a wide range of IP in various fields such as sports, broadcasting, digital art, entertainment, photography, and art, giving it differentiated competitiveness in the NFT business sector.