Lotte and KT cooperate to lead metaverse market

[Smart City Today]

Caliverse, a subsidiary of Lotte Information and Communication, has launched strategic cooperation to preoccupy the tangible metaverse market. Caliverse announced that it has signed a business agreement with KT Alpha, Korea's largest investment distributor specializing in digital content, to expand realistic metaverse content.

KT Alpha is the largest integrated copyright holder in Korea with 20,000 pieces of video content such as movies, animations, and overseas dramas, and supplies various content in partnership with OTT platforms such as Netflix, Coupang, Wave, Tving, Watcha, and IPTV, CATV, and channel companies.

Caliverse is building a metaverse platform that feels real even if you are not in the field through its world-class live-action photography technology, VR synthesis technology, 3D real-time rendering technology, and deep interactive patent technology.

Based on this, CES 2023, which was opened on January 5th (local time in Las Vegas), will showcase a high-quality metaverse platform linked to various entertainment content such as idol concerts and EDM performances with unrealistic stage effects.

Through this agreement, Caliverse decided to actively cooperate to supply, operate, and utilize KT Alpha's video content on the metaverse platform. First of all, it plans to make its debut on Metaverse, focusing on various genres of Korean Wave content such as movies and K-POP performance videos. For example, you can enjoy movies, idol performance videos, and 3D animations in the metaverse space built by Caliverse with the highest level of live-action graphics.

In addition, the two companies promised to cooperate to discover new business models based on video content utilization.

“Prior to the global opening of the Metaverse platform, we expect to be able to draw active partnerships with global companies by utilizing KT Alpha's various VR contents”, said Kim Dong-kyu, CEO of Caliverse.