Korean virtual entertainment startup ‘23rd century kids (23i)’ has secured KRW 1.2 billion (approximately $900,000) in seed investment from Kakao Ventures, FuturePlay, and Fast Ventures. The company is focused on creating virtual artists who exist and perform in the digital world. These virtual artists are attracting attention, as they are expected to lead a new wave in entertainment, building strong fanbases with detailed world-building and high-density communication. The global virtual artist market is projected to reach KRW 23 trillion (approximately $17 billion) by 2028. It’s anticipated that the fandom industry, which already has a strong consumer base, will see rapid growth by applying the successful formula of the K-pop idol market.

23i plans to introduce virtual artists who can naturally interact with fans in various settings, such as live performances and fan meetings, using real-time motion capture, rendering, and toon shading techniques powered by game engines. Their ambition is to introduce artists who can engage in meaningful interactions with fans—sharing experiences of communication, empathy, and support—thereby opening new horizons in the entertainment industry.

With this investment, the company plans to speed up production of their Virtual Boy Group, aiming for a debut in the first half of next year. They will focus on enhancing the characters of each member and creating diverse content that makes it easier for fans to connect with the artists. To build a top-notch virtual entertainment platform, they also plan to recruit experts in game engines and visual effects (VFX).

23i is led by CEO Kim Hyeong-min, who has experience in developing new businesses at Socar. The team is composed of experts in various fields crucial for developing a virtual entertainment business, including game engines, VFX, webtoon writing, and social media creation. They intend to produce a wide range of content, drawing from their expertise in areas like K-pop, animation, musicals, and gaming, while setting a new direction for the virtual idol market.

Ahn Hye-won, a senior analyst at Kakao Ventures who led the investment, said, “The 23i team has a deep understanding of how to build and manage fan communities. We expect them to become a leading entertainment company in the virtual idol market by developing intellectual property (IP) in a fast and flexible way.”

Kim Hyeong-min, CEO of 23i, added, “Virtual artists will maintain constant contact with the public, showcasing the excitement and appeal of a new era unlike anything we’ve seen before. Our goal is to become a future-forward entertainment company that inspires the world with experimental visuals and innovative content.”