Studio Santa Claus Establishes Metaverse Platform 'Onbus' with 20% Equity Stake

[Asia Economy Reporter Jang Hyowon] Studio Santa Claus announced on the 10th that it has established a new corporation, Onbus Co., Ltd., and decided to invest 20% of the shares to enter the platform business combining metaverse and NFT.

This investment was made following the strategic business agreement signed last December with VR and AR specialized companies Onface and Onface Games. In addition to Studio Santa Claus, Onface and Onface Games participated as major shareholders, and starting with the establishment of the corporation, they are expected to accelerate the joint development of metaverse and NFT platforms as well as game business.

Onbus is a metaverse platform applying Unreal Engine technology and plans to launch an NFT open market service combining virtual worlds and entertainment. It is being developed based on 'Unreal 5,' the development engine most similar to the real world, and is expected to provide users with a high level of immersion by utilizing ultra-precise location tracking technology.

In particular, based on prominent global partnerships, it plans to secure various NFT contents such as artworks, real estate, game items, movies, golf, and casinos, targeting not only the MZ generation but all age groups, providing easy transactions and expanded experiences to differentiate itself.

A representative of Studio Santa Claus said, "As the metaverse market size is expected to reach about 1,700 trillion won by 2030, we expect to generate high investment returns through this corporation establishment and investment," adding, "Since our partner Onface possesses verified VR and AR technology and extensive game development experience, we will be able to present a competitive 'social immersive life platform.'"

Meanwhile, Studio Santa Claus recently announced on the 4th that, thanks to the development of NFT (Non-Fungible Token) and metaverse industries, it will maximize the value of its own production and distribution business of online video service (OTT) content.

This content was produced with the assistance of AI translation services.