"Make Money in the Metaverse"... SKT Introduces 'Economic System' in Ifland

Compensation and Sponsorship 'Ifland Points'... Avatar Costume Creation in 'Studio'

An SKT model is experiencing the metaverse 'Ifland'. Photo by SKT

[Asia Economy Reporter Oh Su-yeon] SK Telecom has strengthened its ecosystem by introducing an economic system to the metaverse platform 'ifland.' As it becomes possible to generate revenue through activities within ifland, user participation is expected to expand.

On the 5th, SK Telecom announced that it has officially launched the economic system in ifland and carried out a large-scale service update to strengthen the metaverse ecosystem centered on creators. They introduced ‘ifland Points,’ which allow participant rewards and host sponsorships, as well as a PC beta version, a 'Lounge' designed for first-time metaverse visitors, and ‘ifland Studio,’ where users can create their own avatar costumes.

Introduction of Metaverse Economic Ecosystem ‘ifland Points’... Costume Creation ‘Studio’ Opens

Any ifland user can earn ‘ifland Points’ as rewards by completing designated missions such as logging in during specific time periods and using various functions within ifland. Users can sponsor their ‘ifland Points’ to hosts who operate ifland meetups. Hosts can apply for cash conversion of the sponsored points received from running meetups at the end of each month, with settlements processed the following month.

SKT plans to expand the economic system by linking ‘ifland Points’ with cryptocurrency in the future, enabling anyone in the metaverse space to build reputation and generate income.

They also introduced ‘ifland Studio,’ where users can directly create avatar costumes. Based on 11 templates, ‘ifland Studio’ allows users to easily and quickly create avatar costumes usable within ifland. Users can upload their self-made costumes to the official ‘ifland Studio’ website to share with others or trade later using ‘ifland Points.’ The scope will be expanded in the future to allow users to create lands, items, and more within ifland.

To commemorate the opening of ‘ifland Studio,’ SKT will hold an event from the 13th to the 25th where users can showcase their created costumes. Various prizes such as iPads, Galaxy Buds2, and Starbucks gifticons will be offered.

An SKT model is experiencing the metaverse 'ifland'. Photo by SKT

PC Beta Version Released... ‘ifland Lounge’ Introduced to Improve Accessibility

A Windows-based ifland PC beta version is also introduced. The ifland PC beta version will be provided to hosts such as ifland influencers (iflands) and operated on a trial basis for about two months before being updated and made available to all ifland users. Users can freely arrange the screen according to their preferences and manage meetings easily and quickly using shortcut keys.

To enhance the experience and accessibility for first-time visitors unfamiliar with the metaverse, SKT opened the ‘ifland Lounge’ and significantly improved the user interface (UI). Previously, entering ifland lands required several steps including membership registration, but now users can experience the metaverse world in the ‘ifland Lounge’ without signing up through a simplified process.

In the ‘ifland Lounge,’ various events such as a comprehensive orientation on the ifland service, ‘live broadcasts of major meetings,’ ‘today’s fortune,’ and ‘avatar parade shows’ will be held.

Yang Maeng-seok, head of SKT Metaverse CO, said, "Through this large-scale update, we have officially launched the economic system within ifland and further increased user participation and service accessibility." He added, "We will continue to expand the ifland ecosystem through additional large-scale updates within this year."

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