Cytown, the metaverse currently being developed under South Korean software developer Hancom and local social media service Cyworld Z, recently received the green light from Google to launch a mobile app on the Playstore.
See related article: Be kind, rewind! South Korea’s Cyworld is back in Web 3.0 avatar
Fast facts
- Hancom will launch the Cytown metaverse after it finishes linking its system with Cyworld Z, according to local media reports.
- Cyworld Z is a revamped social media platform in South Korea that was hugely popular in the country around the mid-2000s.
- The original Cyworld had 32 million users at one point, but its popularity withered with the advent of mobile social media services such as Facebook and Twitter.
- While Cyworld Z’s social media app launched back in April, it announced that it will further evolve its platform using cryptocurrencies, the metaverse and non-fungible tokens (NFTs).
- The Cytown metaverse will recreate Cyworld Z’s interactive social platform in 3D, with its own economy consisting of Dotori, the cryptocurrency issued by Cyworld.
- Cytown is still awaiting approval from Apple’s App Store.
- Meanwhile, South Korea is increasing its stake in the metaverse — earlier this year, its science ministry announced a US$185 million investment to build the country’s metaverse ecosystem.
See related article: South Korea places $185M bet on the metaverse