[Asia Economy Reporter Kang Nahum] Kakao’s edutech subsidiary Yanadoo announced on the 2nd that its metaverse (extended virtual world) home training service 'Yafit Cycle' has achieved cumulative sales of 10 billion KRW within six months of its official launch. The total distance run by Yafit Cycle users in the virtual world amounts to 4 million km, equivalent to about 100 laps around the Earth. More than 280 million mileage points, which can be used like cash, have also been awarded.
Yanadoo expects to record sales of 80 billion KRW this year, driven by the growth of Yafit Cycle. Next year, it aims for sales of 140 billion KRW through its transformation into a metaverse company.
Yafit Cycle is a new-concept metaverse home training service that allows users to exercise like playing a game in a virtual world. By downloading and linking the Yafit Cycle app on a tablet PC or smartphone, users can exercise at home while running with others through major domestic and international city landmarks and enjoy virtual competitions. There are two models: a premium model consisting of an indoor cycle and a dedicated tablet for the Yafit Cycle app, and an affordable model composed of a sensor that connects directly to an existing indoor cycle at home and an app usage license.
Building on the successful establishment of Yafit Cycle, Yanadoo plans to accelerate its transformation into a metaverse company focused on exercise and education. To this end, it will invest 50 billion KRW next year in building a metaverse platform and developing services.
First, in the virtual space of Yafit Cycle, users will be able to purchase and customize various digital products such as cycles, outfits, and team items for their avatars traveling by bike to landmarks worldwide. A service for riding with celebrities will also be launched soon, and in addition to major domestic cities, famous international city courses such as New York, Paris, and Tokyo will be added in the future.
Yanadoo plans to advance into a metaverse learning management platform and, in the long term, convert offline classrooms into 3D forms for its customized lecture services Yanadoo Class and Kids, growing into a metaverse education platform.
Additionally, it will gradually integrate mileage points earned from services like Youcando and Yafit Cycle, which can be used like cash, and promote issuing goods purchasable with these points as NFTs using blockchain technology.
Kim Jungsoo, co-CEO of Yanadoo, stated, "We plan to enhance current services based on the metaverse to complete the Yanadoo Universe, which encompasses educational services and home training exercise services for everyone from kids to adults. Our goal is to grow into a company covering the two rapidly growing untact industries after COVID-19?e-learning and home training?and to go public by the end of next year with a corporate value of 1 trillion KRW."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
