Zepeto, a popular metaverse platform from South Korea, has announced ambitious plans to expand its services globally. This platform, considered one of the largest metaverse platforms in Asia, is set to make its presence felt in Western Europe and the USA.
Zepeto, a female-centric metaverse platform, is affiliated with the South Korean technology company Naver. Notably, the platform has received investments from major K-pop entities such as YP Entertainment, YG Entertainment, and Hybe. Zepeto currently boasts a valuation of $1 billion and has secured funding from Vision Fund II under SoftBank.
Launched in 2018, Zepeto has garnered a substantial user base of 340 million individuals, with an average of 15-20 million monthly active users. A significant 70 percent of these users fall within the age group of 13-21, primarily young women.
Zepeto functions more like a social network, drawing comparisons to platforms like TikTok and Instagram. However, what sets it apart is the inclusion of avatars, adding an interactive dimension to the user experience.
Zepeto collaborated with many popular fashion brands
On the business front, Zepeto’s parent company, Naver, generates revenue from the platform through avatar customizations and strategic partnerships.
Some prominent fashion giants that have collaborated with the platform include Gucci, Ralph Lauren, Bulgari, Adidas, and Nike. Additionally, Zepeto has secured intellectual property (IP) agreements with entertainment giants like Disney and Universal.
These partnerships contribute to the platform’s monetization strategy, allowing it to offer unique and engaging experiences to its users while driving revenue.
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