Game Companies Diving into Metaverse Ventures

During the COVID-19 pandemic, Metaverse emerged as a next-generation platform. Metaverse is a compound word of Meta, meaning transcendence and virtuality, and Universe, meaning universe. Due to the nature of COVID-19, everything had to be resolved non-face-to-face, so Metaverse, which allowed people to interact with others even in the virtual world, received a lot of attention.
 
However, as COVID-19 entered the endemic stage, the ‘Metaverse’ business also began to decline. Based on Google Trends data, the metaverse search volume received a lot of attention last year at 100 (the maximum is 100, the larger the number, the higher the interest), but interest dropped to a low of 18 at the beginning of this year.
 
It was thought that the heat of the ‘metaverse’ would completely die down, but recently, game companies have begun to enter related businesses one by one, attracting attention. One gaming industry official analyzed that ‘Metaverse’ would be good for expanding the limits of the existing gaming business due to its high growth and scalability for game companies, and said that Google Trends data is also recovering again, attracting the attention of users.
 
NCsoft unveiled the metaverse platform ‘Miniverse’ through a job briefing session for new employees last year. ‘Minibus’ is a social sandbox platform that allows users to communicate in 3D space, create and share desired content.
 
A ‘Miniverse’ official explained that since it has no specific purpose, it can be used freely in any direction, such as taking online classes or using it as a hobby space to watch sports games. The official then announced that they plan to help users earn profits by trading creative content.
 
NCsoft is accelerating development by recruiting additional personnel related to the ‘User Creation Metaverse Project’ in April. Looking at the contents of the announcement, it is presumed that ‘Miniverse’ will pursue high-quality 3D graphics based on Unreal Engine 5 and will also incorporate digital human (3D virtual human with a human-like form) technology.
 
An NCsoft official said, “We still have a long way to go, but we will work hard to ensure that more people can have fun together in a variety of ways in virtual space.”
 
In April, Krafton announced that it would establish a joint venture called ‘Migaloo’ for the Metaverse platform business with Naver Jet, famous for producing ‘Zepeto’.
 
'Migaloo' officials said that they will enable users to create a variety of content in the metaverse space and use blockchain and NFT (non-fungible token) technology to freely trade creative works (C2E).
 
Among them, Krafton is responsible for developing programs, creative tools, and systems, while Naver Jet is responsible for service planning and securing partnerships. ‘Migaloo’ plans to introduce the Metaverse service within the year.
 
Hyeong-cheol Park, head of Krafton Project Migaloo, said, “Through deep thought and research, we have clearly defined the core services and specific models of Metaverse.” “We will present good results as both companies with extensive experience in successful global content services have come together,” he said.
 
Last April, Netmarble also started servicing ‘Modoo Marble 2: Metaworld’, the sequel to its famous IP ‘Modoo Marble’. ‘Modoo Marble 2’ is characterized by inheriting the board game nature of the previous work and at the same time implementing 'Metaworld', an actual cadastral map-based metaverse space, within the game.
 
‘Metaworld’ was created based on actual cadastral maps of major cities such as New York and Manhattan, and users can enjoy a variety of content in this space, including land ownership, building construction, and upgrades. It also supports various avatar customization functions that can increase game immersion.
 
Netmarble also unveiled the MMO social gaming open world ‘Grand Cross: Metaworld’ on the 25th through Metaverse World, a subsidiary of Netmarble F&C.
 
‘Grand Cross: Metaworld’ is an MMO social open world game based on the Metaverse. Netmarble officials explained that they plan to showcase realistic graphics using Unreal Engine 5, and that activities linked to reality, such as interaction between users and content creation, are possible.
 
Com2uS cannot be left out either. Com2uS announced on the 1st that its subsidiary Com2Verse has started the service of ‘Space’, the first service of the metaverse ‘Com2Verse’. ‘Com2verse’ was created with the purpose of providing a real-life space where people can freely conduct most aspects of their lives, including work, economy, and play, in the digital world, beyond the limitations of space.
 
'Space', the first space of 'Com2verse', serves as the hub of the Metaverse community, allowing groups large and small with various purposes to communicate freely. Space provides a 'theme' function, a space setting service for community purposes, and currently has a total of 4 types.
 
Lee Gyeong-il, CEO of Com2verse, said, “We are happy to present the first space, and although there are many shortcomings, we plan to develop it further.” “Com2Verse is a space that strives to capture the future, and is committed to improving the usability and efficiency of all spaces.” “We have designed it to have meaning, so please look forward to the various services that will be developed in the future.”
 
Meanwhile, market research firm MarketsandMarkets estimates that the global Metaverse market size will be $61.8 billion (approximately KRW 80 trillion) in 2022, recording an average annual growth rate of 47.2%, and $426.9 billion (approximately KRW 554 trillion) in 2027.


Source: Donga News