SK Planet announces building UPTN using Avalanche Protocol
SK Planet has intentions to continue working with Avalanche Labs, evident from the fact that it has announced building an Avalanche Subnet – UPTN – on the network. Once developed, it will be integrated with the Loyalty Program in South Korea via Avalanche Protocol.
SK Planet, a leading data and technology company in South Korea, is building an Avalanche Subnet for their tens of millions of users.
Their subnet, UPTN, will be integrated with SK Planet’s portfolio of consumer applications, including OK CashBag. pic.twitter.com/hnbwapQBgM
— Avalanche 🔺 (@avalancheavax) April 5, 2023
It will be a dedicated subnet that will act as a Web3 portal for the users of SK Planet. It will further strengthen the grounds for Web3 wallets, digital collectibles, and decentralized communities, among many other things. It will be integrated with OKcashbag (OCB) and other services with the objective of granting access to NFT, dynamic membership, and unique community features. Furthermore, it will be an advantage as OCB is one of the renowned e-commerce electronic programs of Korea, which holds more than half of the population of South Korea as its members.
Emin Gün Sirer from Ava Labs has said that the team remains committed to supporting the ecosystem of buyers and merchants during their practice of exploring the unique benefits that the Avalanche ecosystem fetches. The Chief Executive Officer of Ava Labs has also said that the partnership with SK Planet is an opportunity that helps fulfill the appetite for the Web3 experience in South Korea.
Support by both partners will extend to buyers and merchants alike in the region. SK Planet is one of the many partners of Ava Labs in South Korea, empowering the platform to boost the adoption of Web3 to fulfill the demands of the tech-savvy population. It has been successful with its efforts so far, with Ava Labs reporting a rise in its brand recognition by 1393% quarter-on-quarter basis in the fourth quarter of 2022.
SK Planet is aiming to expand its footprint across the globe. Partnership with firms such as Avalanche comes in handy to achieve the goal. While the growth appears to be restricted in Asia at the moment, it does have global ambitions that will happen in the years to come.
Lee Han-Sang, the Chief Executive Officer of SK Planet, has echoed a similar tone by saying that it will expand into new business and be reborn as a venture that provides IT & communication services which are powered by Avalanche Blockchain. Lee has assured of working closely with Avalanche to offer unique benefits to the users while unlocking synergies.
A similar partnership is taking place with Gunzilla Games, where the launch of GUNZ is in the works. Avalanche Subnet remains the most preferred choice by individuals and developers alike, for it enables them to create a customized blockchain to meet the requirements of their specific applications. Also, the subnets developed are interoperable with the Avalanche network. It does wonders by isolating the traffic to a dedicated infrastructure with an assurance of security and scalability with no limits whatsoever.
UPTN will be a portal to the Web3 sphere, but that is expected to be available dedicatedly to the millions of users of SK Planets only. It will then form the foundation that helps users participate in owning wallets and digital collectibles and create decentralized communities. A lot more can be done under the partnership umbrella of SK Plant and Avalanche, something that will become public soon.