SKT Introduces Economic System in 'ifland'... Buy and Sell Content

SK Telecom announced on the 16th that it has officially introduced an economic system to its metaverse service ‘ifland’ and added over 16,000 new premium content items.

With the addition of these new items, the total number of items available for use in ifland will increase more than fivefold, from the previous 4,000 to around 20,000.

SKT model experiencing the newly introduced economic system in Ifland.
[Photo by SKT]

Generate Revenue by Receiving Paid Currency 'Stone' Sponsorships or Selling Content

SKT stated that it has opened the economic system to activate the ifland service and establish a full-fledged revenue structure for ifland. To this end, the currency is divided into paid and free types, and a paid currency called ‘Stone’ was introduced. ‘Stone’ can be purchased via in-app payments on the app store, while the free currency ‘Points’ can still be earned through attendance, mission completion, and event participation as before. Stones can be used to purchase differentiated items with high collectible value and to sponsor hosts. Users can visit specific ifhomes or participate in large-scale meet-up events held in ifsquare to support hosts.

The free currency ‘Points’ can be used to purchase basic items. SKT plans to offer products or events that can only be purchased or participated in with points, providing a fun element for customers who frequently use ifland.

With the introduction of this economic system, ifland influencers can now earn revenue by receiving sponsorships in ‘Stone’ through meet-up events held at ifhomes and ifsquare. SKT expects that when users provide the paid currency ‘Stone’ to influencers they want to support, the opening of meet-ups by influencers and user participation in sponsorships will become more active. Revenue generation is also possible through item creation such as costumes. Creators can produce costumes via the ifland studio, and after ifland’s internal review, upload them to the costume store to earn income.

SKT anticipates that the introduction of the economic system will activate a virtuous cycle ecosystem that guarantees the activities of influencers and creators producing metaverse content based on ifland, while continuously providing users with various premium items.

Camping-themed Ifhome
Photo by SKT

Going Camping in the Metaverse... Diversification of Themes and Motion Items

SKT announced that it will introduce four theme-customized item sets as premium content for users’ personal spaces in ifland, called ifhomes: camping and parties, space, and the latest trendy home styling. For example, the camping theme includes fun camping-related play items such as fishing ponds, large tents, campers, and camping chairs. Various motion items have also been added. Users can now enjoy motion items such as choreography from famous idols, challenges and memes that can be shared on ifland or other SNS, and emotional expressions that enrich conversations with friends in the metaverse.

A service to meet K-pop stars in volumetric form (a technology that captures and stores objects in 3D using multiple cameras and sensors) has also been officially introduced. SKT first showcased volumetric figures of six members of the girl group Secret Number and seven members of the boy group Kingdom.

Ifland will also introduce unique items through partnerships with various intellectual properties (IP), ranging from luxury fashion brands to the global art company PINZLE. For fashion brands, avatar costumes identical to real products and decoration items emphasizing brand identity are expected to be updated as early as November. For the art company, large art walls and sculptural art items that can be applied to ifhomes will be provided. Brand-specific items from Seven Eleven and Mega Coffee were also included in this update.

Integration of ifland and TopPort... Display of National Treasure-Level Cultural Heritage NFTs in ifhomes

SKT has introduced a large number of non-fungible token (NFT) items to ifland through integration with the NFT marketplace ‘TopPort.’ When purchasing NFT items in ifland, users can use them as avatar costumes or decorations for ifhomes. Additionally, purchased NFT items can be stored and viewed not only within ifland but also in the newly launched Web3 wallet ‘T wallet.’ T wallet is a Web3 wallet service that provides digital asset storage and management, as well as decentralized app (dApp) identity verification functions.

Along with the introduction of NFT items, SKT will also offer a variety of NFT products such as costumes and hair accessories planned in-house to express the individuality of ifland. These include national treasures owned by the Kansong Art Museum, such as the celadon monkey-shaped water dropper, the white porcelain blue-and-white iron-red inlay floral and insect pattern bottle, and the representative work of the Kansong Art Museum, a pair of stone tiger sculptures, allowing users to more easily access and keep national treasure-level cultural heritage items within ifland.

SKT will hold ‘Theme Weeks’ so that ifland users can enjoy experiencing the service through theme-based meet-ups, ifhome decoration, costume use, and more. These will be held over 2 to 3 weeks with various themes such as Outdoor Week and Party Week, featuring surprise events and meet-ups hosted by ifland influencers. To enable more users to enjoy the service, ‘Lucky Draw’ events and ‘Decorate My ifhome’ events will also be held.

Yang Maeng-seok, head of SKT’s Metaverse CO, said, “The introduction of this economic system aims to create a virtuous cycle structure where premium content production and consumption occur together in ifland. We will continue to work with creators to build a growing metaverse platform that provides users with rich, high-quality content.”

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