IAC/Interactiv Corp is launching a virtual world to accompany its avatar creator, Zwinky. Zwinky allows young people to create custom avatars and post them on MySpace and other social spots, according to TechCrunch.

Zwinktopia will allow its users to explore, chat, and play mini-games and activities for Zbucks, the world currency. Zwinky already has about 4.7 million unique visitors, while about 20 million have downloaded the Zwinky toolbar.

To promote Zwinktopia, Zwinky is launching a 30-second TV spot encouraging children to exercise their identity-building faculties through the site.