South Korean Blockchain research company AMAXG has launched “BIZA-Metaversity,” a metaverse-based AI education platform, to tap into the fast growing virtual technology sector worldwide.

The metaverse refers to virtual worlds shared by people online. Users interact through digital avatars in the virtual environment while carrying out real life activities.

AMAXG plans to gather education institutions in the BIZA-Metaversity and provide an all-in-one education service across borders.

After operating beta test for two months, it will launch a decentralized, two-way education service powered by AI, the company said.

“After opening education courses in real time from August to December, we expect BIZA-Metaversity to become metaverse platform that combines education with one of the most essential technologies in the off-contact era,” said AMAXG CEO Choi Jeoung-moo.

Choi added that the metaverse platform seeks to offer off-contact but realistic learning experience that is required in the post COVID-19 era.

According to the company, most educational institutions -- from elementary, middle and high school, to governmental institutions, private organizations and academies, and even freelance lecturers -- can open up education courses, post videos online and communicate with their students.

Educational institutions are required to pay $10 in BIZA, a cryptocurrency of developed by the company, to start a course in the platform. BIZA will be used in the CarnegieMall, person-to-person online shopping mall, and UVIT, a digital asset platform, the company said.

Users can search and register for online classes after installing the BIZA platform. Education fees should be paid in BIZA.

The platform supports Korean, English, Chinese and Japanese.

“BIZA-Metaversity offers equal opportunity of education to every student across the world. By using the platform, they have access to ‘smart education.’ It is also convenient for them to pay for the courses since cross-border transactions are available through BIZA payments,” the company said.

The company is in full swing to expand its BIZA platform that combines their blockchain technology, BizAuto MainNet, and an automatic XML engine that enables fast data storage and processing provided by 3K Group, an IT solutions and services provider in South Korea.

Meanwhile, the company has set foot in other businesses for blockchain commercialization. It plans to launch a platform for transactions of unique value identified tokens and non-fungible tokens this month. The goal is to offer opportunities for users to expand their own metaverses while making digital asset transactions with others.