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Metaverse: SK networks, Com2Verse sign investment deal for metaverse business
SK networks is investing in Com2Verse, the metaverse subsidiary of Com2uS, a South Korean mobile and online game publisher. The two firms signed an investment deal worth KRW4 billion or around $3 million.
SK networks has put in money on Com2Verse to explore new business opportunities in the field of the Metaverse which is one of the fast-growing businesses today. This move has been confirmed by the company officials on Tuesday, Aug. 23.
Moreover, SK networks and Com2Verse signed a memorandum of understanding (MoU) to work together in stepping up and building a metaverse ecosystem. The two firms held the signing ceremony yesterday at the virtual auditorium of Com2Verse’s metaverse platform.
The investment deal is a strategic business partnership and they will soon establish a new metaverse system. Both SK networks president and chief executive officer, Park Sang Kyu, and Com2Verse’s president and CEO, Lee Kyoung Il were present through their avatars in the virtual auditorium during the signing event.
The Korea Herald reported that the MOU will allow the SK Group-affiliated multinational corporation to set up business areas of its headquarters and subsidiaries in Com2Verse’s metaverse platform. It will also be able to operate a number of business processes and offer customer services through those virtual office spaces.
SK networks is also providing the KRW4 billion funds to clear the way for its collaboration with the Metaverse company. It will now start building its business territories in Com2Verse’s metaverse platform. Customers will see the company’s services related to hotels, purifier rentals, car rentals, and more.
“In addition to our endeavor last year to expand blockchain collaboration network with blockchain-specialized venture capital Hashed and blockchain technology startup Block Odyssey, we have built a base as an insider in the blockchain ecosystem,” an SK networks official said in a press release.
He added, “By investing in Com2Verse and forging business partnerships to pry open the _verse market which is one of the promising business areas of the future, SK networks will combine its existing business lines with blockchain to create new values in the _verse world.”