Subdream Studios is preparing to Launch the New Social VR Market

Dec 28, 2016

This is the full text of Subdream Studio's 28/12/2016 press release.

▲ Founder and CEO of Subdream Studios, Jikhan Jung

In the last 6 months Virtual Reality has been gaining in popularity, with gaming being at the core of quality VR experiences.

Founded by serial entrepreneur Jikhan Jung, ex-CEO of COLOPL NI, executive producer at Kabam and founder/CEO of Gala-Net, Subdream Studios is building the future of Social VR Gaming in San Mateo, CA.

Jikhan and his team have developed 3 VR titles this year: Cyberpong, Slot Tub Party and The Rise of the Captain Longbeard. These three titles alone surpassed 100,000 downloads on both major VR platforms, HTC Vive and Oculus.

▲ CyberpongVR, the team’s first multiplayer VR game released earlier this year

Building on the success of its first three games, Subdream Studios will begin developing the first ever platform for Social VR Gaming. The platform brings players together in a lobby where they can challenge each other in 2-4 person multiplayer VR games. A simple PC interface can be used to quickly set up matches, making it easy for VR Arcade operators to provide their guests with the best experience.

Subdream Studios believes that VR Arcades will be critical to the growth of VR, since arcades provide the core of the VR experience without forcing the consumer to invest in expensive hardware or dedicated tracking space. Currently, VR Arcades can leverage the existing infrastructure of distributors such as Steam and Oculus to their advantage, buying a game once and then selling playing time. To help developers, Jikhan wants Subdream Studios to follow PC and mobile models and introduce in-app purchases to the VR space. His experience as a long time free-to-play gaming veteran has shown that this is a profitable model.

Today, the San Mateo-based company announced that it has raised seed funding. Participants in the round include Cognitive Investments, and DeNA.

“There are many gaming studios out there, but the team at Subdream already released three unique VR titles this year, and they are going in the right direction since all their games will be playable in both VR Arcades and the home market,” said Heewoo Lee, Managing Partner of Cognitive Investment.