Bithumb Meta becomes 2nd-largest shareholder of Kim Hyeong-seok's entertainment company

SEOUL -- The metaverse subsidiary of Bithumb, a major cryptocurrency exchange in South Korea, made an unspecified amount of strategic investment in an entertainment company established by Kim Hyeong-seok, a prominent composer and producer, for content partnerships in the metaverse-based digital content market.

Bithumb Meta would work with Nonuni Raiders Entertainment to create an ecosystem in which participants who create and utilize digital content on a metaverse platform can develop their values. Bithumb Meta was launched in February 2022 to develop social metaverse platforms.

"Bithumb Meta's metaverse platform provides an optimal environment for digital creators to incorporate their creative capabilities," Kim said, vowing to provide content creators, artists, and users with a differentiated experience. Kim has shown his strong interest in creating digital content using metaverse and non-fungible fund (NFT) technology. Kim's company aims to showcase its cyberband, 402, in May.

"402, which is being prepared by Nonuni Raiders, is likely to become a trend in the web 3.0 world," Bithumb Meta CEO Cho Hyun-sik said, pledging various forms of collaboration with Kim's company.