CJ ENM acquires 'small stake' in U.S. metaverse tech company

CJ ENM acquired an unspecified stake in U.S. metaverse tech company Hyperreal, the company said Monday.

CJ ENM said that it bought “a small stake.” The two companies will develop new businesses as part of the partnership, CJ ENM said.

Hyperreal is a tech company that specializes in creating 3-D virtual human graphics, founded in 2019 by Remington Scott, a computer graphic developer who won the Best Visual Effects Academy Award in 2005 for “Spider-Man 2.”

The company uses its technology called HyperModel, which allows high-quality virtual humans to move naturally in various media including video games and films.

Recent works include recreating Paul McCartney in his younger years for his music video “Find My Way” last year and producing a virtual avatar for singer Madison Beer to perform during a virtual concert.

“Strengthening the digital components crucial for the metaverse — such as digital humans, immersive devices and visual effects — is becoming essential in improving a company’s competitive edge in the race,” said Kang Ho-sung, CEO of CJ ENM.

“We will keep on investing in ways to develop new businesses and secure the technologies we need in related fields.”

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]