Hompy is big in Korea - but what is it? Hompy is the short form for Homepage. Joi Ito wrote a nice piece on it back in June, referring to Hompy as "personal home pages with photo albums, guest books, avatars, background skins and background music". Unlike blogs or social networking sites, hompies are used to communicate within existing friends. Users buy online currencies called "acorns" which can be used in turn to purchase avatars, furniture, music, etc. to decorate one's site. Cyworld (subsidiary of the SK group) is the company behind Hompies - the company currently generates US$150K a day on "acorn" sales. If you're still confused, check out this article in the Industry Standard. And go here if you wish to try out Hompy on the Korean site...
Given its populartiy, I wonder why there's no English Hompy site as of yet. Or, at the very least, some fusion of the model. Blog platforms in the US are terribly constraining (and boring), designed mainly to host diaries and journals. Social networking sites, on the other hand, focuses on communications capabilities and community building. Customization levels are low, allowing little room for self expression. Can someone bring Hompy to the US? Just think about the vast potential from selling premium digital products and product placement opportunities...
Image Credit: http://www.we-make-money-not-art.com/xxx/park_homepy%5B1%5D.jpg
Is Hompy the Korean version of MySpace?
The Sunday Times piece on "Do you MySpace?" rings a bell, and I quote, "with many users in their 20's MySpace has the personality of an online version of a teenager's bedroom, a place where the walls are papered with posters and photographs, the music is loud, and grownups are an alien species."
Posted by: Ingrid | August 29, 2005 at 10:15 AM