Caliverse signs a VR-content MOU with KT alpha

From left, Caliverse CEO Kim Dong-kyu, Lee Won-jong, Deputy Managing Director from Lotte Data Communication and Kim Hyung-man, the head of KT alpha’s content and media business, sign a memorandum of understanding on Wednesday at Caliverse’s building in Chungdam -dong, southern Seoul, to further expand virtual reality (VR) content. [CALIVERSE]

Caliverse, Lotte Data Communication’s subsidiary, signed a memorandum of understanding (MOU) with KT alpha to further expand virtual reality (VR) content by adapting content from KT alpha, according to the company on Thursday.

The MOU was signed on Wednesday between Caliverse CEO Kim Dong-kyu, Lee Won-jong, Deputy Managing Director from Lotte Data Communication and Kim Hyung-man, the head of KT alpha’s content and media business.

KT alpha, a KT subsidiary, is a digital content distributor that possesses distribution rights for over 20,000 films and animations. Its content is being distributed across streaming services, such as Netflix, Wavve, Tving, Watcha, Coupang Play and IPTV services.

Caliverse is formatting a metaverse platform which will enable viewers to vicariously experience the content as if they’re there in person through live-action filming, 3-D real-time rendering and deep interactive technologies.

The start date or name of the metaverse platform has not been finalized yet, although a spokesperson from the Caliverse said it aims to start its service by the end of this year.

Caliverse will showcase a prototype of its metaverse platform at the Lotte Data Communication’s metaverse zone at CES 2023 on Thursday in Los Angeles. The immersive content offers glimpses from films, K-pop acts and 3-D animation.

Caliverse aims to utilize KT alpha’s content in films and K-pop concerts for its metaverse platform.

The companies will further work to create new business models, the companies said in a press release.

“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 CEO Kim Dong-kyu said.

BY LEE JAE-LIM [lee.jaelim@joongang.co.kr]

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