It is planned to relaunch Cyworld on Saturday afternoon, which was the major social networking site in South Korea during the 2000s before the period of Facebook. Cyworld will function as a social networking platform where users may use bitcoin to decorate their virtual areas.

In a statement posted Monday, Cyworld Z, the firm that purchased Cyworld last year, announced that the once-mighty native platform will be formally re-launched at 4:42 p.m. on Saturday through three app markets — the Google and Apple app stores, as well as the One Store.

With the announcement of Cyworld's first-generation social networking platform, the country's first-generation social networking platform, the Cyworld operator also revealed a plan to launch the country's first-ever cryptocurrency called DTR, with the goal of creating a global lifecycle blockchain ecosystem.

Many Koreans were introduced to the concept of a cybercurrency through the character "Dotori," which means acorn in Korean. This was long before the current metaverse and cryptocurrency mania. Users customized their avatars and personal sites with background music and pixelated things by purchasing cybercurrency with real money and using it to decorate their pages.

"Dotori was used as a cybercurrency by approximately 32 million users on the Cyworld network," according to the report. Users will be able to participate actively in financial activities thanks to the interoperability of dotori and DTR tokens in the new Cyworld, which will allow them to do so as social networking services, according to the business."

Though the news of Cyworld's return has tugged at Korean hearts, the company behind Cyworld is not relying on nostalgia to drive its business forward. It aspires to recreate the golden period of Cyworld by developing a metaverse environment that integrates extended reality, augmented reality, and blockchain technology, among other technologies.

Cyworld Z picked conun, which will be renamed into cycon, as its first family coin before releasing DTR. Conun will be rebranded into cycon. When users use Conun Drive, a desktop software that allows them to blockchain their data in order to increase security, they will be granted the coin. Conun can be used to acquire dotori on the virtual platform, which is a virtual currency.

Cyworld Z also intends to incorporate a non-fungible token platform business into its operations. Photos can be saved as NFTs, and users will earn dotori as a reward in exchange for their efforts.