SKT makes metaverse investment - Mobile World Live

SKT makes metaverse investment

13 APR 2022

SK Telecom (SKT) agreed to buy a stake in motion graphics company Morph Interactive, a move designed to push the operator’s ambitious long-standing metaverse strategy.

There were no details on the value of the investment or stake taken, but the play is apparently designed to advance SKT’s in-house metaverse platform Ifland, which allows users to make digital interactions in a virtual environment.

Morph Interactive produced real-time 3D visual effects on game developer Unity’s engine, in addition to a range of VR and AR technologies which it has worked on in conjunction with SKT and fellow operator KT.

SKT targets for Ifland include gamification, issuing digital assets and launching an e-store allowing users to custom design outfits for their avatars by the end of 2022.

Morph Interactive’s technology is intended to aid the development: it worked on Ifland with SKT in the early stages, the operator stated.

Yang Maeng-seok, head of SKT’s metaverse business, stated the strategic investment will lay a cornerstone for “providing Ifland users with more fun factors”.

SKT made a big splash around Ifland at MWC Barcelona 2022, after launching the platform in July 2021.

SK Group, which runs SKT, formed an ICT development group at the start of the year to attract capital from overseas, funding new projects including the metaverse.

Back

Author

Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

Read more

Related

Tags