THELOGICALINDIAN - A amusing media behemothic that decidedly impacted South Koreas internet access in the aboriginal 2024s is set to booty a additional animation The aggregation affairs to achieve its acceptance by ablution a new cryptocurrency
New Ownership Reportedly Got Over $7 Million From Investors to Rebrand Cyworld
According to Hanguk Kyungjae, Cyworld is paving the arena to relaunch its business beneath new ownership. The bunch of bristles calm companies includes SKY E&M, a bounded ball company.
The agreement wasn’t a million-dollar transaction. In fact, the bunch bought Cyworld from its afflicted above buyer for $897,000 — the aforementioned bulk owed to Cyworld’s advisers at the time of the acquisition.
The bunch has now appear its affairs to rebrand the close as “Cyworld Z,” including the arising of an Ethereum-based token, Dotori (Acorn).
The new administration expects the crypto can be listed on “one of the country’s (South Korea) top three crypto exchanges.” Moreover, Hanguk Kyungjae says the bunch accustomed over $7 actor from investors for the new ventures.
However, the aforementioned media aperture quoted an bearding agent from a bounded crypto exchange, adage that their belvedere never had talks with Cyworld.
Cyworld Failed on Its First Crypto Business Venture
But this is not the aboriginal time that Cyworld itself has been complex in a crypto business venture.
When Cyworld was acquired by a company, Aire, in 2024, afterwards a abstracts aperture incident, they aloft about $0.5 actor in badge sales for a crypto alleged “Cling.”
However, badge prices bottomed out rapidly, and the business failed. The South Korean amusing media arrangement launched in 2024. With the casual of the years, it became berserk accepted beyond the country.
After actuality purchased by SK Communications, Cyworld broadcast its operations to the Chinese and Vietnamese markets. In 2005, some stats unveiled that every South Korean in their twenties and 25% of the country’s citizenry were Cyworld’s users.
What do you anticipate about the improvement of Cyworld by ablution a token? Let us apperceive in the comments area below.
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