SK Planet Launches UPTN: South Korea’s Web3 Ecosystem on Avalanche
SK Planet, a prominent player in South Korea’s information and communications technology sector, is set to introduce UPTN, a dedicated Avalanche Subnet that will serve as a Web3 gateway for millions of SK Planet users. The UPTN Subnet aims to support digital collectibles, Web3 wallets, decentralized communities, and more.
“Ava Labs is committed to supporting South Korea’s buyers and merchants as they explore the benefits of the Avalanche ecosystem,” stated Emin Gün Sirer, CEO of Ava Labs. “This partnership with Ava Labs and SK Planet presents a significant opportunity to meet South Korea’s growing demand for Web3 innovations and redefine 21st-century e-commerce.”
UPTN will seamlessly integrate with SK Planet’s popular services and apps, including OKcashbag (OCB), South Korea’s largest e-commerce loyalty program. Nearly half of the South Korean population is enrolled in OCB, and its community will now gain access to NFTs, unique community features, and enhanced membership benefits powered by Avalanche.
Avalanche’s Growth and Impact in South Korea
- Avalanche’s brand recognition in South Korea surged 139% quarter-over-quarter in Q4 ‘22.
- SK Planet’s collaboration with Ava Labs underscores Avalanche’s rapid growth in the country’s Web3 sector.
SK Planet, a subsidiary of SK Square, specializes in e-commerce and digital marketing solutions, including popular loyalty programs in South Korea. Partnering with global entities like Ava Labs, SK Planet aims to expand its platforms not only in Asia but also in strategic global markets.
“SK Planet is transforming into a global leader in innovative information and communications technology powered by Avalanche,” commented Lee Han-Sang, CEO of SK Planet. “Collaborating closely with Avalanche enables us to unlock synergies and deliver unique benefits to our customers.”
Avalanche Subnets: Enabling Custom Blockchain Solutions
Avalanche Subnets empower individuals and enterprises to create custom, application-specific blockchains optimized for their unique use cases. These Subnets maintain seamless interoperability with the broader Avalanche network while isolating traffic to dedicated infrastructure, ensuring secure and scalable blockchain solutions.
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