Korea’s CJ ENM Buying Stake in Hyperreal, Developer of Digital Humans (EXCLUSIVE)
variety.comPatrick Frater Asia Bureau ChiefCJ ENM, one of the companies leading the Korean entertainment wave, has acquired a minority equity stake in U.S.-based metaverse firm Hyperreal Digital.The stake was made through a private transaction with Hyperreal’s founders.
The value of the stake was not disclosed. But it is known that Hyperreal previously closed an oversubscribed $7 million seed funding round in October.The new investment was made by CJ ENM to expand its digital related business sectors related to the metaverse, non-fungible tokens (NFTs) and other tools.
It is particularly interested in Hyperreal’s high fidelity digital humans.Digital humans have been developed by several companies to act and interact on behalf of real-world celebrities in social media settings.
Their use is expected to develop and broaden as the metaverse becomes more widely accepted and deployed. Hyperreal says that its HyperModel technology creates realistic 3D digital humans that can be any age, speak any language, and perform in multiple digital media environments – from film, TV and video to immersive interactive experiences, ecommerce and augmented reality, virtual reality and immersive screen displays.
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