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Sears Lab Consortium selects 15 Billion Metaverse Platform Developer

Space Elvis, Decaric, Mobile Tech, etc. participate...I'll show you a new type within 2-3 years.

A consortium of six companies organized by XR company Sears Lab (CEO Jeong Jin-wook) signed an agreement on the 8th as the final operator of the 2022 Metabus Platform Development Project promoted by the Ministry of Science and ICT and the Korea Radio Promotion Association in the first half of this year.

The Metabus Platform Development Project, selected by the Sears Lab Consortium, is a project that supports the development of a new type of metabus platform that differentiates itself from existing platforms in various areas such as daily life and economic activities.The total business budget is up to 15 billion won, which will be developed over about two to three years.

The recently selected Sears Lab consortium was evaluated as having the best capability to professionally cover all areas necessary for commercialization of meta-bus platforms that require convergence development, from AI source technology to XR platform and content development, spatial data, and blockchain technology.

It consists of a total of six specialized companies, including XR content company Space Elvis, VR platform company D-Caric, space data company Mobile Tech, blockchain company Community Lab, and graphics company DeepX Lab.Apart from the consortium participants, SK T Mobility, Google Korea, SK Shielders, and Hanyang University will participate as cooperative organizations for the successful commercialization of the project.

The project aims to revitalize a commercial-level platform and open ecosystem that allows participants to freely implement daily life and economic activities within an open platform, allowing users to communicate and interact offline and directly build data, content, and business models.After commercialization of this platform, it is expected to contribute to the development of Korea's metabus industry ecosystem by creating new virtual economic value through the Mirror City platform in various fields such as the government, local governments, and general companies.

Amid intensifying competition among major global IT companies such as Apple, Google, and Facebook to dominate the early global meta-bus market, the project is drawing attention in the market as the government and the private sector lead together at a time when securing a globally competitive meta-bus platform.In particular, the private-led government-supported "creative innovative future platform" discovery project is more meaningful in that it is the largest platform project under the new government's meta-bus policy.

We will utilize about 80 existing customers and partnerships for successful commercialization and actively utilize existing overseas networks for global expansion, said Jeong Jin-wook, CEO of Sears Lab.

Meanwhile, Sears Lab, the organizer of the consortium, successfully launched the world's first augmented reality selfie video app "Lollicam" in 2015, and attracted investment from Y Combinator, which is known as Harvard in the startup world.ARGear, an augmented reality core engine developed with Sears Lab's own technology, is a vision AI (Vision AI) technology-based XR company with about 80 million commercial mobile applications worldwide.

Reporter Bang Bang


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