South Korea embraces Metaverse in a unique way

The citizens and major companies of South Korea, with their huge involvement in the crypto world, are now embracing and integrating Metaverse into their day-to-day lives in very unique and unexpected ways. The country’s two renowned retailers have introduced artificial intelligence (AI) and Metaverse to shoppers aiming for a better shopping experience. 

On November 16, GS Shop incorporated Metaverse in their home shopping service displaying the inner workings of the food production system. The goal behind the idea is to reassure the consumers of the food and facility’s quality they are paying for.

GS Shop shifted the pictures of the physical facility into 3D representations to help the customers who have augmented reality (AR) devices to take a tour of the facility in the virtual world to check the food production conditions and hygiene. 

South Korea is an active Metaverse user

Multi-chain ecosystem accelerator DeSpread’s co-founder Jason Ye pointed out the explosion of firms in South Korea joining the Metaverse in Korea. He said that Korea has a huge number of IPs, and if one combines these IPs with great content, one can build an amazing business model. He added that the main mantra to enter the Metaverse is having attractive and quality content.

Metaverse and AI are ruling in different industries. Digital avatars are popping up in different sectors, including retail, shopping, finance, and public services.

Another retailer, Lotte Home Shopping, introduced Lucy, a virtual model for promoting the products by the brand. The company will use Lucy in future video content and social media. Interestingly, the company has created a dedicated Instagram handle for the avatar. It is highly speculated that the retailing company would integrate Lucy into its Metaverse-based digital store.

As TheCoinRise reported, South Korea in October signaled the development of its central bank digital currency (CBDC). The Financial Services Commission of the country also decided not to impose any tax on NFTs.