[Asia Economy Reporter Jang Hyowon] Studio Santa Claus announced on the 4th that, amid the continued momentum of NFT and metaverse themes this year following last year, the value of the company's original production and distribution business for its over-the-top (OTT) content is expected to be maximized.
With the global success of the Netflix series "My Name," produced by Studio Santa Claus, raising the status of K-content, and the expansion of content usage through metaverse connectivity, it is interpreted that this reflects the prediction that the OTT content production and distribution business will lead to substantial sales growth in the future.
Additionally, Studio Santa Claus has partnered with OnFace, an IT company possessing core augmented and virtual reality (VR·AR) technologies, to jointly promote the development of OnVerse and the gaming business, suggesting an expansion into the NFT and metaverse platform business sectors.
OnVerse is a metaverse platform applying Unreal engine technology, known to provide a foundation for developing a new business that combines virtual worlds and entertainment, thereby broadening the usage scope of new content and significantly enhancing user satisfaction.
A representative from Studio Santa Claus stated, “We are focusing on diversifying our content business by paying attention to the infinite possibilities of NFT and metaverse, such as starting metaverse platform development with AR/VR company OnFace,” adding, “By connecting NFTs, metaverse platforms, and the content we own, we will expand the previously limited usage scope of content and accelerate the growth of the entertainment business.”
Meanwhile, Studio Santa Claus signed a Memorandum of Agreement (MOA) with Izmedia in July for cooperation on an NFT platform.
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