Zepeto, a fashion metaverse ecosystem, received a $150 million investment from SoftBank.
According to the Wall Street Journal, Japanese financial giant SoftBank has invested $150 million in Zepeto, a metaverse ecosystem developed by South Korean Naver Corp. With the investment, the company’s valuation exceeded $1 billion. The WSJ also stated that the platform has more than 2 million daily active users. Chief Strategy Officer of the company, executive director Rudy Lee, said:
The increasing popularity of the platform caught the attention of fashion giants such as Gucci and Ralph Lauren, the leading luxury clothing brands, and brands offered virtual clothing products on the platform.
SoftBank recently led the $93 million round of The Sandbox, another leading metaverse platform.