Established in April 2019 by Cho PD, ChoCo Entertainment has witnessed rapid growth through business expansions, all within the space of fewer than three years. Their recent acquisition of a VFX company was not their first expansion effort. They had previously purchased a production company founded by a previous Mnet employee last year, who specialized in stage production and entertainment program production of shows such as KCON and MAMA.
According to a press release by ChoCo Entertainment, the chief executive officer, Cho PD, noted that the latest acquisition of a VFX company specializing in high levels of CG and VFX technology was to boost their business prospects as they plan to expand their firm, which currently includes K-Pop, K-Content, metaverse, a digital influencer, and NFTs focused on the global market.
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The firm and its subsidiary companies are also promoting the development of NFT content and digital influencer content, which will expand the IP of their K-Pop group that is about to debut.
Additionally, following the release of the trailer of their reality NFT on the 6th of January, the K-pop group will become the first in the world to offer a season-based reality NFT. The reality NFT, which is already garnering much attention from their fans, will serve as a fusion alternate universe content that will be displayed through reality videos that show the connection between real-life K-Pop artists, unique characters, and avatars which serve as alternate egos of those living in the digital space.
Prominent local investors and firms are also taking part in this latest move, and ChoCo recently released plans to increase their capital by more than 10 billion won last year. All these are part of the firm’s aspirations to become the next generation of the K-pop group.