LEE SANG-HEON, CEO OF METALOCAT, WHO CREATED VIRTUAL STAGE FOR VIRTUAL GIRL GROUP MAVE:, WORKS IN SEOUL, SOUTH KOREA, FEBRUARY 28, 2023. REUTERS/KIM SOO-HYEON
South Korean virtual girl quartet MAVE: gained almost 20 million views on YouTube with their first music video, showing the potential for virtual artists to achieve global success.
MAVE: members live in the metaverse, and their songs, dances, interviews, and hairstyles are created by web designers and AI.
- The group looks at how the metaverse will likely evolve as South Korea's entertainment and tech spaces collaborate in emerging technology.
- Kakao, a tech giant, is backing MAVE: and has launched a $960M tender offer to acquire K-pop pioneer SM Entertainment.
- MAVE: is an "ongoing" project exploring new business opportunities and ways to work around technological challenges.
- Kakao declined to make any income forecasts from the venture.
- While virtual groups like MAVE: are novel, the question is whether they can match traditional bands' and fans' interactions.
Zoom Out:
- MAVE:'s creators and entertainment industry officials are optimistic about its potential and feel it represents the future of entertainment in the metaverse era.
