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Gen-Z’s Zepeto virtual reality platform Zepeto now hosts Softbank’s store created by investment firms Naver Z and Softbank.
The creator of Zepeto, Korea’s most popular virtual reality platform for Gen-Z, and Japanese bank SoftBank have launched a metaverse store called SoftBank Shop. The store is hosted by Zepeto and will offer 24-hour customer service, year-round.
新しくできた #ZEPETO の #ソフトバンクショップ、もう遊びに来てくれましたか？
ぜひアプリをダウンロードして、週末はショップに遊びに来てくださいね✨https://t.co/1yjOu6i5zi#SoftBank@zepeto_jp https://t.co/NdGnz7rK65 pic.twitter.com/2RKJ0vdPZk— SoftBank (@SoftBank) June 24, 2022
A salesperson will answer customer queries from 10 a.m. to 9 p.m., but after-hours customer service will be provided by an AI bot.
In the metaverse store visitors can listen to product descriptions and then purchase products or receive coupons at their respective official stores.
#SoftBankShop opened in ZEPETO!
Shop collab items 🛍️, and take a pic in the photo zone! 📸👉 https://t.co/gLaOOuhRka @SoftBank#ZEPETO #SoftBank pic.twitter.com/66qkgpo8mS
— ZEPETO (@zepeto_official) June 23, 2022
Zepeto Launch
Launched in 2018, Zepeto has since surpassed 300 million users, and allows users to turn their selfies into avatars. In 2020, it launched its creator platform, Zepeto Studio for users to directly produce and sell digital wearables on the platform.
As of this month, 2.6 million creators have registered on the platform, with 150 million item sales accumulated, and 30 billion WON ($23.22 million) in transaction value.
Zepeto’s parent company Naver Z launched a $100 million creator fund in January to expand its metaverse product offerings across multiple devices, such as cell phones, computers and virtual reality.
SoftBank and Y-Mobile’s official online store, selling accessories and IoT products, is in the pipeline.
Other brands in the metaverse
The metaverse platform is also collaborating with various fashion, beauty and entertainment brands and celebrities such as Ralph Lauren, Gucci, Nike, Dior Beauty, Titan (BTS), Selena Gomez, Blackpink, Nmix, Starbucks, Visa, Hyundai Motor Company and Samsung.
SoftBank’s Vision Fund 2 made a $150 million investment in Naver Z last December valuing the virtual reality platform at over $1 billion.
Previously, Vision Fund 2 led a $93 million funding round for The Sandbox. In April, SoftBank co-led the $150 million funding round for startup Web3 Improbable.
Softbank’s other plans
In addition to investing in metaverse platforms, SoftBank also plans to launch an NFT marketplace in 180 countries, as its holding company, Z Holdings, is leveraging part of its five-year budget of $4.3 billion to expand SoftBank’s global presence.
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