SK Telecom’s Ifland metaverse provides cashable in-app economic system

The Ifland metaverse, run by South Korean telecommunications large SK Telecom (SKT), is permitting customers to earn cash by internet hosting meetups within the digital world, the corporate announced Monday.

See associated article: South Korea’s Ifland metaverse dives into play-to-earn

Quick info

SKT has adopted an “ifland point” system to usher in its metaverse economic system — any Ifland customers can earn factors by logging in at a selected time and finishing missions. There are also factors given as each day rewards, attendance rewards and shock rewards. Customers can donate their factors to different customers who host digital meetups on Ifland. These hosts are eligible to liquidate earned factors to their personal accounts.At the moment, customers can solely cash-out donation factors they acquired by means of internet hosting meetups, SKT advised Forkast.Ifland’s latest improve additionally consists of “ifland studio,” the place customers can create their very own costumes for avatars. The costumes will likely be tradable with factors sooner or later.Ifland says there will likely be three extra large-scale updates to additional increase the metaverse ecosystem.The corporate can also be growing a digital wallet for crypto administration and Web3 entry.

See associated article: South Korea’s SK Telecom to build its first Web3 wallet