Zepeto Metaverse Platform Surpasses $1B Valuation: A New Digital Era
Zepeto Achieves Unicorn Status with $150 Million Investment from SoftBank
Zepeto’s Rapid Growth in the metaverse
A recent report from the Wall Street Journal reveals that Zepeto, a South Korean metaverse platform, has reached a valuation exceeding $1 billion following a substantial $150 million investment from SoftBank. This innovative platform, which has been operational for three years, allows users to create personalized 3-D avatars and engage with a global community.
Features and User Engagement
According to Zepeto’s official site, the platform is available for download on both Google Play and the Apple App Store, making it accessible to a wide audience. Users can not only interact with each other but also have the opportunity to design unique items, such as clothing for their avatars and entire 3-D environments. The platform boasts an impressive user base of 200 million, alongside 1.5 million creators who have contributed to over 50 million item sales.
SoftBank’s Investment Strategy
In addition to its investment in Zepeto, SoftBank is reportedly planning to inject $50 million into a funding round for the financial technology firm Juspay. This move highlights SoftBank’s ongoing commitment to investing in promising digital platforms.
The Surge of Virtual Worlds
The demand for virtual environments is on the rise, as evidenced by a recent 25% surge in the value of The Sandbox’s SAND token, following a collaboration announcement with Adidas. The token’s value has reached record highs, surpassing $7, marking a significant weekly increase of 70%.
Major Brands Entering the metaverse
Prominent brands like Nike are also seizing the opportunities presented by the metaverse. Earlier this month, Nike launched its virtual experience, Nikeland, on Roblox, allowing users to engage in various sports activities and customize their avatars with Nike merchandise.
The Financial Success of Gaming Platforms
With an ever-growing user base and increasingly sophisticated virtual environments, platforms focused on interactive experiences are thriving. Roblox, one of the pioneers in the virtual gaming space, reportedly generates daily revenues of $3 million, showcasing the lucrative potential of the metaverse.
