On the heels of the huge support being enjoyed by SK Telecom from its government and other local businesses, the company is now set to extend its Metaverse to European countries.
SK Telecom of South Korea announced plans to expand its rapidly growing Ifland metaverse into Europe through a German partnership.
During a first-quarter earnings call, South Korea’s largest telecom operator announced the launch of an open platform and crypto-economic system for Ifland. Furthermore, in the second half of the year, the company plans to expand its Ifland metaverse to 80 countries.
The South Korean government and other local businesses support SK Telecom’s metaverse goals.
SK Telecom Aims To Bring Metaverse To Europe
Ifland has already begun to expand into international markets, thanks to SK Telecom. The company has agreed to launch a German version of its Ifland metaverse by the end of the year in collaboration with Deutsche Telekom, Germany’s largest telecom operator.
After a successful launch in Germany, the company may expand into other European countries.
According to local news outlets, SK Telecom reported solid earnings in the first quarter, with the Ifland metaverse seeing an average of 1.35 million users in March.
The Ifland metaverse, according to Yang Maeng-Seok, head of SK Telecom’s Metaverse, could serve as a new means of communication and community meetings.
“With the open platform, we can directly create avatars and spaces, and we plan to expand into 80 countries in the second half of the year, providing support and content transactions based on the crypto-economic system.
To further its metaverse, the company recently collaborated with Morph Interactive to introduce props, avatars, costumes, and spaces.
South Korea’s cryptocurrency market is exploding under the leadership of President Yoon Suk-yeol. Yoon Syoueol recently decided to postpone the crypto tax and repeal the 2017 ICO ban. The government’s support for the cryptocurrency community will boost cryptocurrency adoption in the country.
South Korean conglomerates such as SK Group are pioneering crypto adoption by delving into metaverse, NFTs, and cryptocurrencies.
