ZEPETO just received investment money from two of Korea's top entertainment agencies!
On October 12 KST, NAVER Z, the corporation behind the trendy AR avatar application, revealed that Big Hit Entertainment and YG Entertainment have invested a total of 12 billion won (~$10.4 million USD) into the product - with Big Hit Entertainment investing 7 billion won (~$6.1 million USD) and YG Investment and YG Plus investing 5 billion won (~$4.4 million USD).
According to NAVER Z, the investment will not only secure a wide range of content from fashion to entertainment, but encourage further collaboration between the application and the entertainment agencies. Previously, BLACKPINK collaborated with ZEPETO on a diverse content, including the dance practice video for their summer single "Ice Cream," where avatars of the members and pop star Selena Gomez performed the song's choreography.
"We look forward to the synergy between ZEPETO, who is leading the global trend of AV avatar services, and Big Hit's powerful artist intellectual property," a source from Big Hit said about the investment. "We will be able to provide a more expanded fan experience through the virtual environment in the future."
Meanwhile, ZEPETO has also been expanding collaboration with global brands like Nike and Disney, and as of this past August, boasts over 180 million users from around the world.