Cho PD Acquires A VFX Company Ahead Of K-Pop Reality NFT's First Reveal

ChoCo Entertainment, founded by Cho PD, acquired a VFX company and is planning to strengthen its business competitiveness, focusing on producing a virtual influencer, producing K-Pop content, and IP expansion.

Cho PD revealed that ChoCo Entertainment, the CEO and chief producer, has signed an acquisition contract for a company specializing in VFX with a subsidiary broadcasting production company.

The VFX company acquired by ChoCo Entertainment is a company with high levels of CG and VFX technology and infrastructure. Based on the VFX, they can produce several virtual influencer projects, advertisements, and videos.

Cho PD, while focusing on ChoCo Entertainment, plans to continue expanding his business which includes K-Pop, K-Content, metaverse, a virtual influencer, and NFTs targeted at the global market, by collaborating with the recently acquired broadcasting content producer and VFX company subsidiaries.

ChoCo and its subsidiaries are promoting the production of NFT content and virtual influencer content that expands the IP of the K-Pop group which is about to debut. Anon, an avatar and alter-ego of Sean (a member of the pre-debut K-Pop group, ChoCo1) was recently unveiled as ChoCo’s first virtual influencer and attracted attention.

The rookie K-Pop group will be the world’s first to issue a season-based reality NFT. ChoCo first revealed the trailer on Jan. 6, before the NFT’s release. The reality NFT, which will be revealed, is drawing attention as fusion alternate universe content shown through reality videos that display the relationship between real-life K-Pop artists, unique characters, and avatars which are another ego of those who exist in the virtual world.

Founded by Cho PD in April 2019, ChoCo Entertainment is growing rapidly through business expansion, in the space of fewer than three years. ChoCo acquired a production company founded in July last year by a former Mnet employee who specialized in stage production and entertainment program production of shows like KCON and MAMA.

Through the acquisition of VFX companies, ChoCo is diversifying its business in earnest. About three years after its establishment, ChoCo’s number of employees increased by about 80 people, including subsidiaries and trainers.

Their sales volume, which was only 300 million won in the first year of their establishment, is rapidly growing to 1.4 billion won in 2020 and more than 8 billion won in 2021.  

Leading domestic investors and companies are also participating in this move. ChoCo confirmed its plan to increase capital by more than 10 billion won last year. The subsidiary alone has attracted more than 5 billion won in capital increase funds.

 

“We are stepping up efforts to improve the completeness of K-Pop-based IP and realize ChoCo’s unique differentiation strategy. We are working with entertainment and IT industries to aim for the next generation of K-Pop.”
Cho PD