[AVING] Emotionwave Creates a Culture Where Anyone Can Enjoy Creative Activities Through 'Convergence of Art and Technology'!

The Ministry of Science and ICT supports the 'Metaverse Content Global Cooperation' project to enhance the global capabilities of domestic metaverse innovation companies and help them enter overseas markets. Furthermore, as part of this initiative, it selects major domestic metaverse companies and provides promotional opportunities through press pitching with global media outlets.
Emotionwave Co., Ltd., an AI-based metaverse specialist company established in 2013 (CEO Rio Jang), is creating a new culture where anyone can enjoy creative activities under the slogan of 'Convergence of Art and Technology.' The company possesses various metaverse-related technologies, including AI music technology, media live streaming technology, music performance robotics technology, virtual human and virtual performance production technology, and NFT technology. Based on these, it provides various metaverse services such as developing metaverse platforms and creating content.
Its representative services include the AI music platform 'RIMA', the metaverse NFT entertainment platform 'AIMPLE', the metaverse AI music education platform 'MEW', and the media live streaming platform 'VISCOOP'. In addition, it offers services such as web/app service planning and development, and software development for music and performances.
Emotionwave stated, "We thought that anyone can be a musician, so we pondered how to make it easy for people to create music. Therefore, we converged advanced ICT technologies such as artificial intelligence, robotics technology, and IoT technology into music and gave birth to the AI robot band 'RIMA.'"
RIMA is an acronym for 'Robotic Instrumental Music for All,' referring to six types of AI robotic instruments that self-create and perform songs by being equipped with real acoustic instruments after deep learning on over 100,000 pieces of music and performance big data. Currently, RIMA consists of piano, drums, guitar, bass, marimba, and percussion, and the company plans to develop even more diverse AI robotic instruments in the future.

Emotionwave has built an on/offline converged concert solution based on RIMA, which enables AI performance and creation, and is active in the retail entertainment market. By utilizing RIMA, not merely as an AI robotic instrument but as an AI music platform, it provides unmanned concert solutions and creates new concepts of rhythm action games for various retail stores.
An official stated, "Recently, the needs of retail stores are to provide special experiences to visitors to increase foot traffic and encourage them to stay longer. By utilizing RIMA, we can provide store visitors with new entertainment content that delights both their eyes and ears." The official also explained, "Furthermore, RIMA can be used for education. Our company has built a groundbreaking music education solution using artificial intelligence instruments, rather than simple online lecture formats."
This is a music education solution that helps performers practice by analyzing the performer's hand shape and playing style in real-time to identify areas needing improvement using AI instruments. Additionally, as technology advances and the COVID-19 pandemic causes the metaverse to rapidly emerge, Emotionwave has also built a solution that fuses its self-owned AI music technology with virtual human creation technology, NFT technology, etc., allowing digital musicians to operate and release albums in various environments such as online, offline, and the metaverse," the official added.

These solutions are designed to be controllable on mobile or PC environments for user accessibility and ease of use, so anyone can utilize them easily. In the future, Emotionwave plans to build these entire solutions to also be usable in the metaverse.
Emotionwave is showing continuous growth with revenue recorded as 340 million won in 2019, 760 million won in 2020, and 2.2 billion won in 2021 based on its metaverse-related solutions. As numerous contracts have been secured with large domestic and international corporations, the company expects this year's revenue to be higher than last year's. Specifically, early this year, we signed an MOU with Kyungin Broadcasting Corporation regarding metaverse broadcast content production and received sponsorship from Evermedia, a specialized broadcasting equipment/media company. We have also concluded investments and contracts with famous entertainment companies in Korea. We will also hold a metaverse concert from September to the end of the year in collaboration with Ifland, SKT's metaverse platform.
Future plans were also announced. The official stated, "Since the metaverse service requires many people to use it to build an ecosystem, we plan to focus on securing B2C customers going forward. We will expand our B2C services and raise corporate awareness by periodically holding various events such as NFT minting events or metaverse auditions." The official added, "We have currently established a US corporation and are assessing customer demand through Kickstarter. Once customer demand is identified, we plan to conduct local marketing in earnest."
Meanwhile, the global media companies participating in the 2022 Metaverse Content Global Investment Commercialization Support Program were Geekspin from the United States, GadgetTouch from Japan, Vietnamplus from Vietnam, and Le Café du Geek from France, totaling four countries. Interviews were conducted through video meetings via Zoom.