South Korean telecommunications giant SK Telecom has announced an alliance with Morph Interactive to expand its metaverse platform Ifland.
According to the partnership deal, the two firms will develop costumes, avatars, props, and spaces that will be utilized to expand the Ifland metaverse space. Additionally, the alliance will see the telecom giant investing in Morph Interactive to spur its growth and expansion.
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SK Telecoms To Cater To The Gen-Z And Millennia Market
SK Telecom is one of the major companies in South Korea that are interested in making headways in the crypto and NFT markets. The launch of the Ifland platform will give the telecom company the ability to cater to the Gen-Z and millennial market, which is rapidly growing in the industry.
The partnership with Morph Interactive will also introduce mini-games and other game elements in the metaverse space. Also, it will allow users to create costumes, avatars, and spaces, to foster interactions and communications in Ifland. SK Telecom has aligned effectively with Morph Interactive since July 2021, when Ifland was launched.
Chief Executive Officer of Morph Interactive, Kim Jung-youl, stated that the partnership deal will enable the quick transformation of Ifland into a successful metaverse both for users and businesses on a global scale. Additionally, SK Telecoms will be holding events such as concerts, festivals, fan meetings, forums, and lectures in Ifland.
The Head of SK Telecom’s metaverse platform, Yang Maeng-seok, commented on the development.
“We will continue to expand cooperation with leading Metabus-related companies and establish ourselves as a global service,” he stated. The plan is also to introduce the NFT marketplace in the metaverse gradually.
South Korea Becomes More Friendly To Crypto
The South Korean government, headed by President Yoon Suk-yeol, is set to provide a friendly environment for crypto and non-fungible tokens (NFTs). The government is introducing crypto-friendly regulations as many companies try to gain from this opportunity.
South Korean firms such as SK Group, LG, and Samsung are also contributing to the NFT and crypto developments in the country. Presently, SK Group is planning to launch its cryptocurrency through its investment arm SK Square.
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