Com2uS acquires metaverse platform to grow as digital content provider

South Korea-based Com2uS Corp., the creator of the popular game Summoners War, is ramping up its efforts to transition into a global content platform by acquiring the management rights of WYSIWYG Studios Co.

On Aug. 25, Com2uS announced that it has acquired 11.27 million common shares in WYSIWYG for 160.7 billion won ($137.8 million), marking the game developer's largest-ever single investment. WYSIWYG is a metaverse company that specializes in visual effects (VFX) technologies and creates video content.

Earlier in March, the company had already purchased 5 million shares in WYSIWYG for 45 billion won, bringing Com2uS to hold a 38.11% stake in the metaverse company. 

Com2uS is hoping to tap into the metaverse segment and strengthen its IP portfolio via WYSIWYG, which creates IPs and makes video content with its computer graphics (CG) and VFX technologies such as the recent Netflix No.1 hit Space Sweepers.

The cinematic tech company has been working on metaverse projects by fusing its augmented reality (AR), virtual reality (VR) and extended reality (XR) technologies. 

WYSIWYG is also considered a comprehensive media content provider as it oversees content production, distribution as well as performances and exhibitions through its subsidiaries. Recently, its subsidiary NP made a trading debut on the country’s tech-heavy Kosdaq market. NP provides online and offline brand experience services as well as producing XR content that ties in with metaverse content.

Meanwhile, Com2uS has been expanding its footprint in the content segment by investing in content companies, including the US-based Skybound Entertainment which produced The Walking Dead TV series.

Com2uS has also joined forces with a leading domestic webtoon production company Kenaz to set up a joint venture, Jungle Studio, which will focus on content creation such as webtoon and web novels alongside building an IP portfolio that includes Com2uS game IPs.

Com2uS' is looking to establish an IP value chain via transmedia storytelling, a process of offering a single story across various platforms. The company plans to develop its content materials into games and also expand its games across a wide range of media platforms including films, drama and web novels. 

Write to Min-ki Koo at kook@hankyung.com
Danbee Lee edited this article.