SoftBank Invests $150 Million in Zepeto Metaverse Platform

The Zepeto metaverse platform from South Korea’s NAVER Corporation attracted $150 million from SoftBank in a Series B funding round, according to Wall Street Journal.

According to the publication, launched in 2018, Zepeto attracts more than 2 million daily active users. The virtual world is popular mainly among girls aged 13 to 24.

Users create 3D avatars and can interact with one another, attend events, and purchase digital items, including clothing from Gucci and Ralph Lauren.

“We are probably the world’s largest virtual fashion marketplace,” commented Rudi Li, Chief Strategy Officer of Naver Z Corp.

Investments by the Japanese conglomerate have raised the platform’s valuation to more than $1 billion.

NAVER Corporation — operator of the country’s most popular portal Naver, its child-friendly versions, and the Line messenger.

Earlier in November, SoftBank via its Vision Fund 2 supported the gaming metaverse platform The Sandbox in a $93 million round.

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