Irugo World Captures Metaverse Economic Activities in On-Chain Data

▲Photo by Kim Jeong-su, CEO of Irugo World

[Asia Economy Reporter Seungjin Lee] Metaverse platform developer Irugo World is onchainizing economic activity data.

On the 24th, Kim Jeongsoo, CEO of Irugo World, announced, "We have completed preparations for an onchain project that records all economic activities occurring in the metaverse on the blockchain." Onchain is one of the methods of recording blockchain transactions, storing all transmission details occurring on the network on the blockchain.

Irugo World explained that transparent operation is essential for maintaining an ecosystem that connects the real and virtual worlds, which led to the preparation of this project.

Irugo World has been continuously strengthening transparency. Last year, it voluntarily paid taxes by transparently reporting token sales amounts as revenue to the National Tax Service. This is in stark contrast to some blockchain companies that have been avoiding tax payments on digital asset transactions, with a policy to enhance transparency of blockchain tokens through transparent taxation.

Kim Jeongsoo, CEO of Irugo World, said, "If blockchain companies comply with laws and fulfill tax obligations, government support will follow," adding, "Through Metaverse Irugo World, we will transparently record people's economic activities, pay taxes, and build a solid foundation that can receive protection within the institutional framework."