SK Telecom recently launched a digital currency called “Stone” for virtual purchases within its metaverse Ifland, aiming to enhance user engagement and create a thriving virtual economy.

The South Korean telecommunications giant, with over 30 million customers, introduced this economic system on Oct. 16, 2023, to Ifland, where users can use Stones to buy virtual items with high collectible values and sponsor events or meetups. This move opens up new opportunities for influencers to generate income through donations from their followers.

Additionally, Ifland offers a “free currency” called “Points,” which users can earn by participating in events or completing virtual missions, adding another layer of engagement to the platform.

SK Telecom also unveiled virtual items tied to non-fungible tokens (NFTs) on TopPort, an NFT marketplace powered by the company. These items, such as unique costumes and accessories for avatars, enhance the customization options and overall experience within the metaverse.

SK Telecom’s commitment to web3 technologies and investments is evident in its previous collaborations and acquisitions within the cryptocurrency space. The company has been actively involved in developing digital wallets for storing cryptocurrencies, NFTs, and digital credentials, as well as acquiring stakes in prominent cryptocurrency exchanges like Korbit.

With the launch of Stones and other virtual assets, SK Telecom is poised to further solidify its presence in the metaverse and offer users a diverse range of high-quality content and experiences within Ifland.

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