S.Korea’s Ifland metaverse launches globally in 49 countries

South Korea’s telecommunications giant SK Telecom (SKT) is launching its Ifland metaverse in 49 countries in North America, Europe, the Middle East and Asia, the company announced on Wednesday.

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Fast facts

• SKT will utilize K-pop to develop joint content with various international partners and strengthen the communication functions on the platform to promote Ifland as a global social metaverse, its press release stated.
• SKT has signed a memorandum of understanding (MOU) with Japan’s largest mobile phone operator NTT Docomo to cooperate on content development, technology and service of their respective metaverse platforms.
• Ifland has also named Emirati-based tech firm e& and Singapore’s telecommunications group Singtel as its global partners.
• In September, Ifland added an in-platform economy where users that host meetings on the metaverse can receive point donations from other users, which can be cashed out.
• In Q3 2022, Ifland accumulated a user base of 12.8 million, according to the press release. Its local competitor, Naver Z’s Zepeto, boasts over 300 million downloads globally, with 95% of its users coming from outside South Korea.
• SK Telecom owns over 47% of all mobile communications users in South Korea as of 2021, according to the Korea Information Society Development Institute (KISDI).

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