SK networks invests in Com2Verse, the metaverse subsidiary of Com2uS, a South Korean publisher of mobile and online games. The two companies have signed an investment agreement worth KRW 4 billion, or about $3 million.

SK networks invested in Com2Verse to explore new business opportunities in the field of metaverse, which is now one of the fastest growing companies. This decision was confirmed by company officials on Tuesday, August 23.

Additionally, SK Networks and Com2Verse have signed a Memorandum of Understanding (MoU) to work together to scale up and build a metaverse ecosystem. The two companies held the signing ceremony yesterday at the virtual auditorium of Com2Verse’s metaverse platform.

The investment deal is a strategic business partnership and they will soon establish a new metaverse system. SK Networks President and CEO Park Sang Kyu and Com2Verse President and CEO Lee Kyoung Il were present through their avatars in the virtual auditorium during the signing event.

The Korean Herald reported that the MOU will allow the multinational SK Group affiliate to set up business areas of its headquarters and subsidiaries in Com2Verse’s metaverse platform. It will also be able to operate a number of business processes and offer customer services through these virtual office spaces.

SK networks is also providing the funds of KRW 4 billion to pave the way for its collaboration with the Metaverse company. It will now start building its trading territories in Com2Verse’s metaverse platform. Customers will see the company’s services related to hotels, purifier rental, car rental, and more.

“In addition to our efforts last year to expand the blockchain collaboration network with blockchain venture capital Hashed and blockchain tech startup Block Odyssey, we have built an insider base in the ecosystem. blockchain,” an SK Networks executive said in a Press release.

He added, “By investing in Com2Verse and forging business partnerships to open up the _verse market which is one of the promising business areas of the future, SK Networks will combine its existing business lines with blockchain to create new values ​​in the _verse world.