SK Telecom (SKT), a leading South Korean telecommunications company, has made significant improvements to its metaverse platform, ifland. These enhancements include the introduction of new virtual items, non-fungible tokens (NFTs), and a self-contained economic system based on its own virtual currency.
In an official press release dated October 16, SK Telecom announced the integration of 16,000 new virtual items to its existing collection of 4,000 offerings. These new items cover various themes — including camping and party-related assets. The addition also includes motion items, such as popular dance choreography and emotional expressions.
SKT has also established an economic system with the launch of ifland’s official virtual currency, called “Stone.” Users can use Stone to purchase virtual items and support events or gatherings within the ifland platform.
Influencers and content creators can earn income in the form of Stones when users sponsor their events, whether in their personalized “if homes” or the communal “if square.” Additionally, content creators can generate income by creating items like costumes using the ifland Studio.
SKT has also integrated NFT items into its metaverse through its dedicated NFT marketplace, “TopPort,” and has introduced a range of unique NFTs, featuring items like costumes and hair accessories.
NFTs acquired within ifland can be used to enhance “if homes” or avatars and can be managed and stored in SKT’s Web3 wallet, “T wallet.”
These updates align with SKT’s ongoing mission of improving its metaverse, focusing on enhancing user experiences. In November 2022, SK Telecom expanded its ifland metaverse globally, introducing features like “one-on-one direct messaging,” a “3D speech bubble” for better communication, “Live voting,” and “ifme motion sharing” for real-time visitor feedback and lifelike avatar expressions.