SM Entertainment just launched a new metaverse subsidiary. 

On 12 July, the entertainment powerhouse announced that they have just established 'Studio KWANGYA', a new company that will focus on producing metaverse content and work on VFX production, VR production, and more. 

The new company has also partnered with virtual concert platform Amaze VR to establish Studio A to produce VR concerts for both K-pop and international artists. 

#SMentertainment launches metaverse content production technology company, ‘STUDIO KWANGYA’! The new venture includes Post Production, VFX Production, Virtual Human, VR Production, M/V Studio and Virtual Studio. https://t.co/PJOyxbWntU#SM #SMTOWN #STUDIOKWANGYA #스튜디오광야 pic.twitter.com/o65vW6Hs88

— SMTOWN (@SMTOWNGLOBAL) July 12, 2022

Studio KWANGYA is said to help further build SM Entertainment's SM Cultural Universe (SMCU) which sees stories that cross both reality and the virtual world named 'KWANGYA'. In the last year, we've seen several artists transcend into KWANGYA, including aespa, NCT, and more. 

"SMCU is a concept that encompasses the unique stories and worldviews of each artist, crossing virtual and real. In KWANGYA, there will be various types of content that have never been seen before, and SM established the Studio KWANGYA to professionally create differentiated metaverse content based on CT (Culture Technology) that SM has accumulated," said representatives from SM Entertainment.