CJ ENM, a Seoul-based entertainment company, has acquired a minority stake in Hypperreal Digital Inc, an American Metaverse entertainment firm. The stake was bought through a private transaction with the company’s founders.
The acquisition is a part of CJ ENM’s larger strategy to expand its business into the Metaverse and NFTs. The transaction will allow CJ ENM to expand its VFC technology. The firm will also have access to Hyperreal’s HyperModel technology, which includes 3D digital imaging that imitates human speech and action.
In October, Hyperreal closed an oversubscribed $7 million seed funding round with investors from a range of global entertainment firms. Hyperreal’s Hyper Model technology will allow CJ ENM to enter the Metaverse space with digital humans technology used in Film, AI, video games, e-commerce, and immersive interactive experiences.
Remington Scott, CEO of Hyperreal said, “This is an important development for Hyperreal and our ambitions globally. We are thrilled to have secured a strategic investment from a massive industry leader like CJ ENM which not only provides validation of our work, it allows for a number of creative collaborations across music, film, TV and digital.”