Technology

A $1 billion metaverse platform that sells high fashion for digital avatars is getting backing from SoftBank and the investors behind K-pop sensation BTS

SoftBank invested $150 million in a South Korean metaverse platform that allows users to dress up their digital avatars in high-fashion labels like Gucci and Dior, the Wall Street Journal reported. With the Softbank-led funding round, the platform called Zepeto scored a $1 billion valuation, the Journal said. HYBE, the manager of K-pop sensation BTS, invested about $41 million. The Journal said Zepeto, which launched in 2018, has 2 million active daily users, a majority of which are females 13-24 years old.

Read more : A $1 billion metaverse platform that sells high fashion for digital avatars is getting backing from SoftBank and the investors behind K-pop sensation BTS.

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