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KT Alpha, a subsidiary of KT Telecom that also distributes content rights for movies, animations and others, sign a memorandum of understanding (MOU) with Caliverse, a subsidiary of Lotte Group’s Lotte Data Communication Company, for immersive metaverse content.
As per The Korea Economic Daily, KT Alpha is currently the largest copyright holder with more than 200,000 video content that includes animations, movies, and local dramas. It signed the agreement with Caliverse late last week, and part of the deal is to add Kpop to the metaverse.
The KT Telecom subsidiary supplies a huge number of content to over-the-top (OTT) video services platforms like Wavve, TVing, Netflix, Watcha, and Coupang Play. Aside from streaming sites, its content is also distributed to cable TV channels and IPTV.
KT Alpha and Caliverse held a signing ceremony for the partnership last week. Kim Hyung Man, the former’s head of content and media business; Kim Dong Kyu, Caliverse’s chief executive officer and Lee Won Jong, Lotte Data Communication’s deputy managing director were all present at the event, The Korea Joongang Daily reported.
Caliverse also built a realistic metaverse platform and this will allow users to experience a kind of content where they can feel as if they are there in person. This is made possible through live-action filming, deep interactive technologies, and 3D real-time rendering.
The companies’ deal will also enable Caliverse to further expand its virtual reality (VR) content by adapting a vast range of content from KT Alpha. The former will be adding content it will obtain from KT Alpha to provide a realistic, extraordinary metaverse experience.
“We are planning to actively pursue our partnership to use KT alpha’s content for VR content so that they can be available for the launch of our metaverse platform,” Caliverse’s chief Kim Dong Kyu stated. "We expect to be able to draw active partnerships with companies overseas by utilizing KT Alpha's various VR contents well ahead of the full-scale global launch of metaverse platforms."
Finally, fans of K-pop can also expect to see concerts and other content of their favorite stars. This is because one of Caliverse’s goals is to bring this Korean popular music culture to its metaverse for people to enjoy wherever they may be.
