Bucket Studio Forms JV with BTS Suga Hologram Producer... Launching 650 Trillion Virtual Human Industry

[Asia Economy Reporter Hyungsoo Park] Bucket Studio and VIV Studios, a metaverse content specialized art-tech company, announced on the 20th that they have established a JV for new businesses utilizing 'Virtual Human (Virtual Human) AI business and Intellectual Property (IP)'.

VIV Studios produced BTS Suga as a hologram at '2020 MAMA' and presented the BTS AR concert. The MBC VR human documentary 'I Met You', which recreated family members who passed away earlier in virtual reality, collaborated on the HYBE BTS original story video, and restored former presidents as virtual humans for the 20s presidential election vote counting broadcast.

Bucket Studio focuses on the capabilities needed for blockchain-based business development and is responsible for new business expansion and planning management by utilizing its extensive existing network. VIV Studios is responsible for developing and producing new-concept virtual human IP combined with various universes based on AI-based virtual humans, LED virtual production, VFX (visual special effects), and unique creative production technologies.

With the establishment of the JV, both companies are focusing on producing real-time avatars and environments with advanced visuals close to reality to dominate the virtual human AI market. Virtual human characters belonging to Vita Entertainment have succeeded in real-time live technology. They plan to secure leadership in the virtual AI market and be active in various fields such as movies, dramas, advertisements, live performances, and album releases.

Bucket Studio CEO Ji-yeon Kang said, "We established Vita Entertainment through the exchange of professional knowledge and technical information," adding, "We will continue to collaborate with top companies in each field such as VIV Studios."

VIV Studios CEO Se-gyu Kim introduced, "VIV Studios' AI-based virtual human production technology is leading the creation of hyper-realistic universes based on years of accumulated experience and database (DB)." He added, "We will do our best to make Vita Entertainment, which leads the virtual human AI market, the center of high value-added businesses together with Bucket Studio."

Vident, an affiliate of Bucket Studio, made a strategic investment of about 25 billion KRW in VIV Studios last March, becoming the second largest shareholder. The JV establishment between Bucket Studio and VIV Studios is expected to create great synergy in expanding new businesses with Inbiogen, an affiliate of Bucket Studio, and Vident.