IPX (formerly Line Friends) virtual influencer 'Wade'. /Courtesy of IPX
IPX (formerly Line Friends) virtual influencer 'Wade'. /Courtesy of IPX

Naver subsidiary and Line Friends intellectual property (IP) operator IPX will invest 5 billion won in the 3D content corporation 'Afun Interactive' (hereinafter Afun). This investment is aimed at entering the rapidly growing virtual idol market. Virtual idols refer to digital characters created using 3D graphics, animation, and virtual reality (VR) technology, which are not based on real individuals.

According to the industry on the 27th, IPX will invest 5 billion won in Afun and cooperate in the virtual character institutional sector. Afun is the developer of the virtual content creation program 'Domination.' Domination is a program that allows characters to mimic natural movements based on real human actions.

Through this investment, IPX plans to intensify collaboration with Afun in content production. IPX will develop characters based on Domination and intends to co-produce virtual idols with domestic entertainment companies. It is also reported that IPX is considering promoting the sale of related IP content through Line Friends stores located in 18 cities worldwide, including Seoul, New York, Los Angeles, and Tokyo. With this investment as a starting point, IPX also plans to expand into businesses, such as virtual YouTubers.

The virtual character business is a field that IPX has continued to attempt to enter for revenue expansion. In 2022, IPX unveiled the virtual influencer 'Wade' and invested 2 billion won in 'Blaste,' the producer of the virtual idol 'Playb.'

According to the market research firm Global Information, the global virtual artist market size is projected to reach $17.4 billion (approximately 25.7 trillion won) by 2028. This represents more than a tenfold increase from $1.639 billion (approximately 2.4 trillion won) in 2021.

An IPX official noted, "With this investment as a starting point, we will integrate the know-how and expertise in producing globally popular IP with new virtual technologies to create a popular content that can be loved by ordinary fans."