The World of Visual Effects ② Metaverse and Virtual Influencers
Expanding Beyond Movie and Drama Graphics Technology to the Virtual World
Revenue Structure Improvement Accelerates with IP and Virtual Humans
This year, the valuation of visual effects (VFX) companies has soared. It is not due to demand from movies, dramas, or advertisements. Their business scope has expanded significantly. A notable area is the extended virtual world (Metaverse). VFX is a core technology in creating virtual spaces. It makes sensory impressions based on real objects appear lifelike. The same applies to newly created sensory impressions. They have developed to the extent that, even when subjectively formed and reflected, they surpass the limits of perception. Choi Wan-ho, Chief Technology Officer (CTO) of Dexter Studio's Technical Support Headquarters, explained, "The ultimate goal of VFX is to realize high-quality computer graphic images that are indistinguishable from reality," adding, "It inevitably has a close relationship with the Metaverse."
The internet and smartphones took less than a decade to commercialize. The outlook for the Metaverse is no different. However, there is a prerequisite: comprehensive technological advancement. In VFX, achieving realism in character and space depiction is highlighted. CTO Choi said, "Currently, it is still at a level where things are depicted simply like cartoons," adding, "While this is sufficient to attract the interest of the MZ generation, it needs further improvement to expand the age range to middle-aged and older groups and to establish itself as a platform that replaces reality." Ko Byung-hyun, Director of the Media Headquarters at VA Corporation, said, "The rapid development of computer performance, including graphic cards, and artificial intelligence (AI) utilization technology is giving momentum to research and development (R&D)."
The focus is aligned with virtual reality (VR), augmented reality (AR), AI, and other technologies that constitute the Metaverse. Most of the information under development is confidential. It can only be gauged through completed technologies and works. In this context, Dexter Studio's VR technology is at the industry's highest level. Since 2017, they have strengthened their capabilities by producing various content such as 'From the Earth,' 'Zone of Mourning,' 'Along with the Gods VR: Escape from Hell,' and 'Along with the Gods VR: Fragments of Memory.' 'White Rabbit' and 'Save Me' also advanced to the 2018 Cannes International Film Festival.
AR achievements are also impressive. Recent successes include LGU+ 5G content 'Endangered Animals Immersive' and immersive cultural heritage content utilizing the Korean Cultural Heritage Foundation's Sodaeheon. The former features forty species of endangered and movie animals rendered in 4K quality. The latter offers an optimized cultural heritage experience in space through volumetric capture (a technology that creates three-dimensional content from 360-degree camera footage). Last year, Dexter Studio also showcased immersive video content of Chinese-style ceramics transmission and Japanese tea culture at the National Museum of Korea's World Culture Hall. A company representative explained, "We created high-quality videos using high-resolution location-based shooting, advanced motion graphics, and matte painting (a technique for depicting spaces difficult to film in live action)."
The driving force behind their success in various fields is the experience accumulated by handling VFX in Korean and Chinese films. CTO Choi stated, "We have independently developed digital character production technology represented by animal fur and digital environment production technology represented by the sea and forests," adding, "Our excellence has been recognized at international academic conferences such as DigiPro and SIGGRAPH." He further explained, "In line with business diversification, we are expanding the scope of application. We are participating in a project by the Institute for Information & Communications Technology Planning & Evaluation to develop holographics for Head Mounted Displays (HMD) and printers."
There are limits to corporate growth through R&D alone because the framework of custom processes remains unchanged. VFX companies secure intellectual property (IP) to cover their weaknesses. Director Ko said, "We are building a diverse content IP library, including virtual environments, which we plan to unveil in the second half of 2023," adding, "We strengthen IP competitiveness not only through in-house content production but also by collaborating with various companies."
The business direction of Engine Visual Wave is similar. They aim to improve their revenue structure by utilizing the IP of their parent company, NEW. NEW is a distributor of films such as 'Train to Busan,' 'Miracle in Cell No. 7,' and 'The Attorney.' They also operate businesses in drama, music, sports, and cinemas. Lee Sung-gyu, CEO of Engine Visual Wave, said, "When the Metaverse is commercialized, an era will come where exclusive content determines success," adding, "The ability to select content becomes as important as technology." Another revenue source is virtual influencers. Engine Visual Wave applies its self-developed 4D facial scan system and speech animation technology specialized for Korean phonemes to Lotte Home Shopping's model 'Lucy.'
VA Corporation will soon unveil three multi-ethnic models, including 'Bandi.' This achievement was accomplished by leading the entire process from design development to live implementation and control. They secured foundational technology by leading the initial development of 'Lucy' and creating AI avatars for the girl group aespa. Director Ko explained, "We have filed patents for facial capture head mounts using 3D printers, proprietary hardware and linked systems capable of full-body performance capture, and solutions that combine captured elements for real-time operation." The multi-ethnic models are expected to enter movies, dramas, performances, and even the Metaverse. Director Ko expressed confidence, saying, "We plan to increase usability by combining the AI system currently under development," adding, "We will develop models capable of real-time control and autonomous perception and behavior based on 3D models."
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