Visual effects (VFX) and content company Dexter Studios (CEO: Kim Wook and Kang Jong-ik), has signed a strategic business agreement with Danal Co., Ltd. (CEO: Park Sang-Man), an expert provider of integrated settlement services, to secure a foothold in the Metaverse industry ahead of the competition.
ⓒDanal
On the morning of March 18, Dexter Studios announced that it had signed an MOU with Danal to promote cooperation in developing its blockchain-based metaverse business.
As per the terms of the agreement, the two companies plan to collaborate on the execution of the Metaverse concept and production and distribution of NFTs using their owned IP and core technology. Moreover, Dexter Studios and Danal, as well as their affiliated companies, will look to build an ongoing cooperative relationship by jointly promoting and investing in blockchain-based content businesses.
Dexter Studios, which has established itself as a successful all-in-one comprehensive content company with box office hits such as the “Along with the Gods” (2017-2018) series, “Ashfall” (2019), and “Escape from Mogadishu” (2021), has recently expanded into new business areas using its VFX technology to identify additional future growth engines.
In particular, it is producing and building an asset library using its owned IP, and it is also planning and producing NFTs in partnership with leading content companies in Korea, including Lotte Cultureworks. Moreover, Dexter Studios is steadily expanding its immersive media and Metaverse businesses led by Virtual Reality (VR), Augmented Reality (AR), Extended Reality (XR), and Virtual Human Technology.
Danal, which provides various settlement services (including over-the-phone payments, credit cards, virtual accounts, open simple payments, and QR codes), is the top company in its market. In terms of subsidiaries, the company owns Danal Entertainment, Danal Fintech, and JEFF. Paycoin, operated by Danal Fintech, has secured 120,000 domestic affiliated stores and 2.5 million subscribers. Last year, Danal also announced a plan to build a Metaverse service “JEFF World” using JEFF.
Dexter Studios’ CEOs Kim Wook and Kang Jong-ik said, “With this new business agreement, we are planning to launch a blockchain-based Metaverse project with Danal and approach it from a variety of angles. We are expecting huge synergies from this partnership given Danal’s prowess in technology and leadership of its market.”
Danal CEO Park Sang-Man said, “The technology of Dexter Studios, the best VFX company in Korea, will generate synergy with the Danal Group’s blockchain, Metaverse, and NFT businesses.” Park continued, “We expect Paycoin to become a key means of connecting the virtual world and real world once real payment using the JEFF Metaverse platform, where the virtual and real worlds converge, becomes reality.”
