SIGMA CHAIN

Jin-young Kwak, CEO of blockchain company SigmaChain, expressed strong confidence in the acquisition of Cyworld, the restoration of its data, and the launch of new Web 3.0–based businesses.

Kwak previously served as a database administrator (DBA) during Cyworld’s early days, leading the design of its service architecture and database structure. Ahead of pursuing the acquisition, he personally visited data centers multiple times to assess the feasibility of data recovery. The acquisition is scheduled to be completed in March, after which SigmaChain plans to begin data restoration and gradually relaunch services.

“Some of the data is fragmented, but if the engineers who originally designed the system work together again, full restoration is entirely possible,” Kwak said.

SigmaChain is a blockchain-focused technology company that operates its own proprietary mainnet. Based on this infrastructure, the company aims to build a Web 3.0 ecosystem where content creators, users, and platform operators share revenue in a fair and transparent manner. SigmaChain views Cyworld’s strong brand recognition and vast user base as an ideal platform for accelerating the mass adoption of Web 3.0, which led to its decision to pursue the acquisition.

Kwak also outlined a vision to rebirth Cyworld as a Web 3.0–based “total internet service.” While preserving the emotional appeal of the original minihompy and its private, relationship-centered interaction model, the underlying technology will transition to a blockchain-based system to enhance transparency in revenue distribution.

“The outward appearance will remain the familiar minihompy, but the system itself will be rebuilt with high-tech infrastructure,” Kwak said. “We aim to establish Cyworld as a platform where memories and assets coexist.”

At the core of the strategy is a new revenue-sharing structure. SigmaChain plans to introduce a “2-4-4 model,” in which revenue generated from content is distributed as 20% to the company, 40% to users, and 40% to content creators. All transactions and distributions will be recorded on the blockchain, enabling automatic settlement according to predefined ratios as revenue is generated.

“In Web 3.0, ownership belongs to creators, not platforms,” Kwak emphasized. “This is a structural advantage that existing platforms will find difficult to replicate, and it will become Cyworld’s unique competitive edge.”

The virtual currency “Dotori,” previously used on Cyworld, will also be redesigned. SigmaChain plans to integrate Dotori with a blockchain-based stablecoin to enhance payment and reward mechanisms.

The service relaunch will proceed in phases. During the beta stage, SigmaChain will prioritize data recovery verification and provide basic minihompy functionality. In the official launch phase, Dotori integration, a marketplace, and an advertising reward system will be introduced. In the long term, the company plans to pursue global expansion by combining the platform with K-culture, with Southeast Asia—where K-pop fandoms are strongly established—being the primary target market.