Naver Z, affiliate of South Korea-based internet giant Naver Corp., announced Thursday that the company has signed a memorandum of understanding (MoU) with Thailand’s biggest communications conglomerate True Corporation to build a global metaverse hub for creators.

Naver said in a statement that both parties has signed a partnership to nurture the metaverse ecosystem on Zepeto.

Naver Z launched the metaverse platform Zepeto in August 2018, attracting users in more than 200 countries around the world. Creators and builders utilize Zepeto Studio to connect with 340 million users globally, growing by 40 percent year on year.

More than 95 percent of the users are millennials and Gen Z from outside of Korea, showing the virtual platform’s promise for future growth.

Currently, there are millions of Zepeto users in Thailand, where the platform is positioned as the most popular metaverse service among generation Z.

More than 500,000 users in Thailand are actively working as creators on Zepeto. In particular, Zepeto is attracting attention as a platform for K-Pop content, which has a big fanbase in Thailand.

On Aug. 31, the luxury brand Bvlgari’s global ambassador and Thai musician Lisa of Blackpink hosted a virtual fan event where fans could enjoy various activities, such as taking selfies with Lisa’s avatar on Zepeto Bvlgari World.

As of August 2022, more than 13 million Blackpink-related items were sold, and Zepeto with Blackpink collaboration music video recorded over 130 million views.

Zepeto has surpassed 20 million global monthly active users (MAU) as of August 2022. The metaverse platform has exceeded 5 billion content creations and 3 billion items sold by collaborating with more than 100 global companies and celebrities.

Zepeto is creating synergies by collaborating with fashion and beauty companies, including Bvlgari, Ralph Lauren, Gucci, Nike, Christian Dior, global entertainment agencies and pop stars, such as TinyTAN, Selena Gomez, Blackpink and Nmixx as well as companies, such as Hyundai Department Store Duty Free, CASTiFY, Samsung and Hyundai Motor Company.

Moreover, thousands of brands are actively bringing out various marketing activities on the platform, targeting Gen Zs in particular.

Creator platform Zepeto Studio, which allows users to create and sell various virtual items, has rapidly expanded its ecosystem since its launch in March 2020.

Zepeto creators made more than 7 million items and more than 175 million items were sold. It has provided opportunities for users to monetize their creations.

“Through this partnership, we intend to lead Thailand into the metaverse by integrating TRUE’s vast digital ecosystem with NAVER Z’s metaverse expertise,” said Birathon Kasemsri, Chief Content and Media Officer at True.

“Using ZEPETO as a platform, we will provide a special future-oriented, online-to-offline (O2O) experience that fits the lifestyle of Thai users and promotes Thailand’s soft power in metaverse content creation for ZEPETO’s global audience,” he added.

Naver Z Head of Business Kang Hee-suk also said on Zepeto, anyone can realize their dreams, interact with other users and generate economic value on the platform.

“Through extensive collaboration with Thailand’s powerful and influential True, Naver Z will promote Zepeto’s growth in Thailand and discover Thai creators who can make wonderful worlds and items while creating new opportunities on the platform,” he added.

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