SK Telecom, a South Korean telecommunications behemoth, said on April 13 that it has signed a strategic partnership deal with Morph Interactive, a 3D motion graphics company, to grow its metaverse platform Ifland.
Reason behind strategic partnership deal
The two companies will work together to create toys, avatars, costumes, and spaces for usage in the Ifland metaverse. Additionally, as part of the agreement, the telecom company will also make equity investments in Morph Interactive.
Morph Interactive and SK Telecom plans on crypto and NFT sectors
SK Telecom is one of several South Korean companies expanding footprints in the crypto and NFT sectors. SK Telecom plans to target the millennial and Gen-Z audiences with the Ifland metaverse platform.
The partnership with Morph Interactive will assist in the introduction of gaming components and mini-games to the metaverse. Also, users will be able to create avatars, outfits, and spaces in Ifland in which they can interact and communicate. Since the launch of Ifland last July, Morph Interactive has been an important partner of SK Telecom.
In addition, the business plans to ultimately integrate an NFT marketplace within its metaverse. Meanwhile, Morph Interactive’s CEO, Kim Jung-youl, believes that the partnership will assist in the development of Ifland into a successful metaverse for its users and companies globally. In addition, SK Telecom intends to organise discussions, lectures, festivals, concerts, and fan meetups in Ifland.
