Nationwide Spatial Metaverse-Based... Virtual Real Estate 'Twin Korea'

[Asia Economy Reporter Hyungsoo Park] The metaverse-based virtual real estate service 'Twin Korea' is launching. Twin Korea is a spatial metaverse platform that implements real-world areas into a spatial metaverse platform where users participate. Each region is divided into 'cells,' and each cell is sold. Those who purchase a cell can become 'cell owners.'

On the 16th, Byungik Ahn, CEO of SikSin, held a press conference in Yeouido, Seoul, introducing 'Twin Korea' and announcing the company's entry into the metaverse business. Twin Korea implements restaurants and shops existing in real spaces as individual cells within the spatial metaverse platform. Users can check the restaurants and shops located at the actual real-world locations within the metaverse's virtual real estate as well.

Byungik Ahn, an expert in location-based and spatial technology, has filed 42 patents. He has published over 20 papers related to location-based and spatial technologies. Based on these technologies, the commercialized gourmet information service 'SikSin' has established itself as a location-based service platform with 3 million monthly active users.

CEO Ahn developed 'Twin Korea' based on technology patents related to spatial assetization methods, location-based community services, location-based franchise services, and service methods using social data. Twin Korea applies the latest information because it is based on approximately 750,000 dining industry data and 50,000 payment franchise data owned by SikSin. With a monthly user base reaching 3 million, it is expected that user inflow to Twin Korea will be rapid.

Twin Korea divides the Seoul area based on 'hot place' commercial districts such as Euljiro, Apgujeong, and Garosugil. The space is divided into cells of 10,000㎡ (approximately 3,000 pyeong) units. There are about 1 million cells within Twin Korea, and restaurants and shops are displayed in each cell. Users receive rewards by participating in activities such as writing reviews, receipt verification, and payments at restaurants and shops. Cell owners who have purchased cells can earn profits depending on the level of user participation. This is an ecosystem of a 'reality-contributive metaverse' where real economic activities are reflected in the metaverse platform, and activities within the platform are reflected in real-world spaces.

Cell owners recognize part of the advertising and marketing costs conducted by restaurants and shops within their owned cell areas as income. Revenue can also be generated by developing various spaces such as shopping malls, exhibition halls, performance venues, and play spaces. Owners can engage in various profit activities using their cells and can increase the value of their cells to sell them to others. This means securing income-generating real estate in virtual space.

Twin Korea is collaborating with the world's largest real estate companies, 'Century 21 Korea' and 'ERA Korea,' to ensure stable cell transactions. A trading platform will also be introduced.

CEO Ahn said, "Twin Korea will grow into Korea's top-level accurate data provider and a win-win platform contributing to the real economy," and added, "After building the platform ecosystem, we will expand the components within Twin Korea into 3D models to create metaverse player spaces."

Twin Korea will begin pre-subscription from the 20th. The first sales area is Seoul, with about 46,000 cells, and the sales areas will expand nationwide.

This content was produced with the assistance of AI translation services.