Metaverse probably is one of the most frequently appearing words on the media and social networks. Developers and investors are not the only ones making huge investments but also governments backing up this seemingly promising future cash cow. South Korea is not an exception. 

The Ministry of Economy and Finance has announced Metaverse Initiative Strategy at its 53third emergency economic meeting that it will pour 556 billion won ($427 million USD) this year alone with the goal of the top 5 global market share by 2026. 

Big tech companies are already fighting to hold a dominant position while various other sectors even including education and tourism are getting serious to turn their eye to this fast rising field. South Korean startups and already settled companies are also moving fast alone or in collaborations. 

Beaconyx is a South Korean company that is attracting a great attention with its metaverse platform MetaBerry. Without the need of downloading the software, users can socialize in virtual spaces of MetaBerry whether tourism, culture or education and they communicate on chat, voice, videos, photos and URL in high quality images and resolutions. A virtual room can invite up to 35 persons or avatars who are free to make additional rooms when it is full. 

“Compare to other similar platforms, more liberty is given in MetaBerry. Creating the worlds and avatars are unlimited as well as no language barriers. Users can share files of a variety of forms and they can move from one place to another instantly like they do teleportation.” explains CEO Shinho Choi.

▲ Beaconyx / CEO Shinho Choi

Since opening September last year, MetaBerry has mostly been used for virtual tourism and culture halls of Korea Tourism Organization alongside education contents. The company has participated in 12 metaverse projects of the organization of which 3 has been rated Excellence and 1 the Best.

The avatars of King Sejong and its aides and the story of King Youngjo and Prince Sado unfolded around Seonggyungwan Academy and Changgyeong Palace received an explosive response. The history quiz popped up time to time during the tour added fun by giving out free gift vouchers to those with came up with correct answers. 

In the Seoul Forest Park metaverse, the guide avatar led a tourist group in chatting and voice like they were touring real Seoul Forest Park. Other impressive metaverses built include Fortress Wall of Seoul, Taj Mahal in India and 14 roads in Jerusalem, Israel. 

The Jerusalem metaverse in particular delivers the letters engraved on the walls and the buildings of the city in minute detail. One might cannot help feeling that he/she really is in the city thanks to its realistic deliverance in three dimensional spaces. 

“It might be a good idea to visit the city in advance before making a real visit so that you are already familiar with the buildings and roads. Walking the roads and places here and there by the guide will equip you with some knowledges and stories of the city beforehand.” says Choi.

Cost-wise, building a metaverse in MetaBerry is economic but the quality of the worlds and avatars are rich. It costs around 1/5 compared to similar services on the market yet it offers limitless worlds and avatars alongside quality contents. 

“It is my goal to grow MetaBerry into an advanced contents business on which I and my expert teams will play a leading role in the field. Though the market is still growing and profits are not visible, metaverse undoubtedly is one of the promising future cash cows and we want to play a part alongside many promising and ambitious startups.” says Choi. <PowerKorea>