Siksin's Nationwide Spatial Metaverse Platform 'Twin Korea' Pre-Subscription Sold Out

[Asia Economy Reporter Hyungsoo Park] SikSin announced on the 21st that the pre-sale for the Seoul area of 'Twin Korea,' the nation's first nationwide metaverse-based virtual real estate service platform launched on the 20th, achieved a 100% sell-out of all sale regions within 9 hours of opening.

Through the pre-sale, SikSin successfully recruited a total of approximately 46,000 buyers. The first pre-sale for the Seoul area, divided into 94 zones based on commercial districts, closed all regions by 7:58 PM on the 20th. Notably, about 20,000 people were on the waiting list, reflecting Twin Korea's high popularity.

According to Twin Korea, the pre-sale that started at 11 AM on the 20th quickly began closing in hot spots with many commercial districts such as Sinsa, Gangnam, Hongdae, Euljiro, and Yeouido within just one minute of opening. The fastest sold-out area was 'Sinsa-Garosugil,' which sold out in about 11 seconds. Following were 'Gangnam Station (17 seconds),' 'Cheongdam-dong (20 seconds),' 'Apgujeong-Dosan Park/Rodeo (26 seconds),' and 'Hongdae (29 seconds).'

The area with the highest waiting list ratio compared to available spots was also 'Sinsa-Garosugil,' showing a high competition rate of 13:1. Next in popularity were 'Insadong (9.2:1)' and 'Apgujeong-Dosan Park (8.5:1).'

Twin Korea is a realistic space metaverse platform that integrates vast amounts of actual restaurant and store data owned by SikSin, a location-based gourmet information service platform with 3 million monthly visitors. It implements approximately 750,000 high-accuracy dining industry data points and 50,000 payment merchant data nationwide into the metaverse world. Through this, it plans to establish itself as a win-win platform contributing to the real economy.

Successful applicants receive one 'Cell' of 10,000㎡ (approximately 3,000 pyeong) within the applied area and become 'Cell Owners.' Various activities conducted on the purchased Cell can generate multiple revenue streams. A 'Cell' is the smallest unit composing Twin Korea's space. Actual restaurants and stores at the corresponding locations will be displayed within the Cell.

General users engaging in economic activities such as dining or purchasing products at restaurants and stores on the Cell, writing reviews, or verifying receipts will receive activity participation rewards. Cell Owners earn income based on users' activity participation. The income is paid as separate 'points' within Twin Korea, which can be used again to purchase goods at restaurants or stores. In reality, economic activities are reflected in the metaverse platform, and activities within the platform are mirrored in real-world spaces.

Cell Owners can also earn revenue from a portion of advertising and marketing costs conducted by restaurants and stores within the Cell or develop various spaces such as shopping malls, exhibition halls, and play areas within the Cell. Cells with increased value can be sold to other owners through an exchange.

Currently, SikSin is known to be collaborating with global real estate consulting firms 'ERA Korea' and 'Century 21 Korea' to activate Cell trading and expand into the global market. They aim to open the 'trading platform' and officially launch the service in the first half of next year.

Byungik Ahn, CEO of SikSin, said, "I was very surprised to see a 100% sell-out result within 9 hours of opening the pre-sale," adding, "I am truly grateful that many people empathized with Twin Korea's goal of becoming a representative win-win platform contributing to the real economy by closely integrating actual physical spaces and digital spaces."

He continued, "Starting with the Seoul area pre-sale, we will rapidly continue development and expand the service nationwide," and added, "We will do our best to activate Cell trading and enter the global market through cooperation with ERA Korea and Century 21 Korea."

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