Zepeto, Jump Crypto Raise $13 Million for ZTX Metaverse on Arbitrum

Outstanding South Korean metaverse platform Zepeto is increasing into the blockchain area with its ZTX (ZepetoX) initiative, created in partnership with Leap Crypto—and at this time, ZTX introduced a $13 million seed spherical led by its enterprise capital companion.

The Leap Crypto-led spherical consists of different traders comparable to Collab+Foreign money, Parataxis, MZ Web3 Fund, Everest Ventures Group.

Valued at over $1 billion, the mobile-first Zepeto is billed as Asia’s largest “Web2” metaverse platform by lively consumer metrics, and the fourth-largest metaverse platform globally behind the favored video games Roblox, Fortnite, and Minecraft. Owned by Korean tech group Naver, Zepeto says that it has attracted over 400 million customers since its launch in 2018.

With ZTX, Zepeto goals to assist increase crypto adoption by introducing possession to its 3D environments, with ZTX set to launch its inaugural Genesis House Mint this month. The gathering of 4,000 bespoke 3D homes—bought as NFTs on Ethereum scaling community Arbitrum—affords membership to one in every of its 4 districts, alongside entry to future drops, occasions, and in-game enhancements.

Final month, ZTX launched a personal beta take a look at of its upcoming platform and just lately collaborated with Mud Labs—the agency that powers the NFT initiatives DeGods and y00ts—on a community-centric initiative referred to as Companion Wearables, offering instruments to IP holders to create 3D belongings to be used within the sport.

In an announcement, ZTX co-CEO Chris Jang emphasised the startup’s dedication to offering “an infrastructure layer for creators.” ZTX’s staff consists of senior alumni from Apple, Roblox, Epic Video games, and EA, together with blockchain veterans who’ve constructed on Solana, Stream, and Cosmos.

Talking to the Monetary Occasions final fall, Naver Z enterprise head Ricky Kang described Zepeto as “the primary avatar-centric social community of its variety,” likening it to social media platforms like TikTok and Instagram.

Now Zepeto goals to parlay that success into the NFT world, placing it in competitors with different metaverse platforms and video games which have provided customers digital land—together with The Sandbox, Decentraland, and Otherside.

Zepeto’s main Web2 platform has pursued a license-based enterprise mannequin by way of strategic partnerships with trend and leisure manufacturers, together with trend manufacturers Gucci and AMI Paris, Ok-Pop woman group Blackpink, and low large Starbucks.

Lately, Zepeto hosted an avatar model of Gucci’s Cruise runway present and let guests buy objects from the digital Gucci retailer. It additionally livestreamed the bodily occasion.