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SKT metaverse festival is lunching in South Korea

SKT metaverse festival is lunching in South Korea

SK Telecom, the largest mobile service provider in South Korea, is presenting a collection of free virtual concerts every night the current week on its ifland metaverse platform.

As reported by the company, the concerts, which started on Monday and continued until Sunday, July 3, will be the world’s initial live concerts in a metaverse using volumetric image capture technology.

Volumetric technology was developed by SKT through the Ifland Metaverse music festival and represents the coming generation of AR and VR experience. It uses 100 cameras from all angles to create natural moving 3D models in virtual reality.

Eight female singers and a female avatar group are present at the Metaverse music festival. Some K-pop artists which will be featured are: Jujkae, Lee Lu Li, Younha, Jimmie, Suran, Minsu, Yoon Ji Young, and Yura. In addition, There will be a meet and greet with fans on Thursday. The concerts will be held in Volumetric Concert Hall through SK’s ifland metaverse platform, beginning at 20:00. every day.

Through the concert, fans will have the opportunity to interact with each other through their virtual avatars. They can also roam easily and freely via the sphere-shaped hall, and it’s up to them whether they want to walk, float, or fly on sky boards.

The festival is part of SKT’s creativity aimed at Generation Z to integrate Metaverse technology with K-Pop content. Other concerts featuring Korean artists are already planned for August in Ifland.

South Korea is hopeful on Web 3

If you have been following NFT news this year, so another virtual concert in the metaverse sponsored by a company such as SKT should come as no surprise. But what makes South Korea unique is that not only brands, companies, and pop stars are investing in the metaverse, the whole country is on the rise on Web 3.

Previously this year, it was reported that South Korea’s Ministry of Information and Communications Technology, Science and Future Planning has committed $186.7M to build a metaverse ecosystem and support the growth and development of NFTs and future-proof technologies in the country. The investment was part of an initiative named the “Digital New Deal.”

Thereafter, alternative blockchain Solana put $100 million into South Korea’s Web3 emerging market. Most of the money is spent on projects in the blockchain gaming sector.

Though South Korea is not the only geographical entity accessing the Web 3 space—Catalonia, Spain is building its own metaverse, and Beverly Hills lately registered for NFT-related trademarks, it seems to be the most committed and with sufficient budget at this point.

SK Telecom showcasing the initial live metaverse concert using volumetric image tech is another sign of South Korea’s powerful move into Web3 and the metaverse.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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