LG Uplus Partners Web3 Startup Witch to Build Metaverse Service for Children Dec 30, 2022 Dec 30, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsDecember 30, 2022 by Kelly Cromley

LG Uplus Partners Web3 Startup Witch to Build Metaverse Service for Children

The third-biggest telecom carrier in South Korea, LG Uplus Corp., stated Friday that it would build a web3 solution for children to give an immersive experience in collaboration with a web3 firm, Witch Company. A web3 firm is a company powered by blockchain that pushes for a decentralised Internet. Non-fungible tokens (NFTs) and the metaverse are two of the most popular technologies and services developed by web3 companies at present.

Witch Company is a startup with metaverse, NFT, and blockchain-related technological skills and service expertise. It operates the metaverse service Witchworld, which enables users to issue NFTs and sell them in 3D places with ease. Additionally, it developed services such as Witchcraft, Witchtoken, and Witchauction.

After creating a fresh web3 development relationship with Witch Company, LG hopes to debut a Web 3.0 children’s service model as soon as the initial quarter of 2023. In the coming months, it will integrate the services with its native growing care service, including Children’s Land.

Web 3.0 is integral to the “Uplus 3.0” idea, which the telecom carrier unveiled in September of last year. Hwang Hyeon-sik, CEO of LG Uplus at the moment, selected Web 3.0 as one among the four primary platforms his business will concentrate on. To this purpose, it intends to increase research and development in the technology sector and develop a Web 3.0 compensation scheme.
Web 3.0 is defined by a framework in which users are compensated according to their contributions to the portal.

“Through collaboration with Witch Company, we hope to develop a metaverse service that people can utilise in their everyday lives,” stated Lee Sang-yeop, executive director of LG Uplus.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.