SK Telecom ends metaverse offering; Meta launches AI model [Video]

South Korean telecommunications giant SK Telecom (NASDAQ: SKM) has announced plans to shutter its metaverse platform ifland to increase the size of its bets on artificial intelligence (AI).

According to local news outlet Business Korea, SK Telecom will bring down the curtain on ifland in March 2025, ending five years of metaverse operations. Described as the end of an era for SK Telecom, the move signals an intention from the Korean firm to turn its attention to AI innovation.

Launched in 2020, ifland allowed users to explore virtual worlds with customizable avatars. At the height of its powers, the metaverse platform attracted over 4 million monthly active users, but waning interest in Web3 saw the figure dwindle to around the three million mark.

While the figures for ifland hit a slump, SK Telecom’s AI …