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South Korea embraces the proto-metaverse

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In South Korea, industries and public services will be rolling out virtual avatars and applications sooner rather than later.

South Korea

MetaNews.

South Korean people and a number of major companies begun to embrace the metaverse.

People in South Korea, as well as a growing number of significant corporations, have begun to embrace and incorporate the metaverse into their daily lives in novel and surprising ways.

To improve shoppers’ shopping experiences, two large stores in the country have lately added metaverse and artificial intelligence aspects.

On Tuesda, GS Shop demonstrated the inner workings of a food production factory to demonstrate home shopping via the metaverse. Additionally its purpose was to reassure customers about the quality of the food sold and the facility.

GS Shop created 3D renderings using scans of the physical facilities. Customers with augmented reality gear, such as the haptic gloves Meta previewed this week, may tour the factory in the virtual world to observe how their food was created.

Jason Ye, co-founder of DeSpread, a multichain ecosystem accelerator, has witnessed a surge in Korean enterprises adopting the metaverse. “It appears like every corporation these days is plunging into the metaverse and playing to profit,” he told Cointelegraph.

“Korea has a lot of massive IPs.” You may create a fantastic business model by combining those IPs with amazing content. The foundation for joining the metaverse is appealing content.”

Metaverse and AI avatars are popping up in several industries including retail shopping, finance and even public services.

The Lotte Home Shopping company created Lucy, a virtual model whose sales expect to reach $14 billion by 2020. Lotte will use Lucy, who has her own Instagram account, in future video content and social media posts. Additionally Lucy is likely to become an essential component of Lotte’s virtual store built on the metaverse.

Virtual reality is now being used in the public sector as well. On Nov. 6, the Seoul City government declared that by 2023, it hoped to have completed its metaverse platform, which will allow people to file civil complaints.

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Michelle D. Madsen

Michelle D. Madsen graduated from the University of Westminster and has been deeply involved in the world of finance ever since. She has worked as a Broadcast Journalist hosting various news shows and informative webcasts about the financial markets. Since 2004 she has also been writing for Metanews daily, her attention to detail, and her in-depth knowledge of the financial markets have led her to cover Foreign Exchange and commodities. The world of finance has changed in the last few years with the introduction and rising popularity of cryptocurrencies. She has in no means been left behind, adding this to her bank of intellect and is now also an expert in cryptocurrencies. For the last ten years, Ms. Madsen has been engaged in the financial market. She has notedly written a great number of incredibly informative reviews for the crypto exchange and forex brokers. Her wealth of knowledge has enabled her to become a leading expert in the field. She continues to inform the public writing up-to-date, thorough reviews for the readers of Metanews as she has for the last decade.
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