"Twice as Avatars" Naver Zepeto Secures 5 Billion KRW Investment from JYP

[Asia Economy Reporter Buaeri] Naver Z, the provider of the global augmented reality (AR) avatar service 'Zepeto,' announced on the 9th that it has secured an investment of 5 billion KRW from JYP Entertainment.

Through this investment, Naver Z plans to transform the global intellectual property (IP) owned by JYP Entertainment into content within the Zepeto service.

Both companies expect that this collaboration will offer new experiences to Zepeto's main users, the millennial generation, and lead the global content market.

In fact, the teaser video of the idol group 'TWICE,' realized as 3D avatars on Zepeto, surpassed 1.7 million views within a week of its release on the 31st of last month.

As of October, Zepeto has surpassed 190 million cumulative users, and the company stated that secondary content created using various IPs within Zepeto has exceeded 1 billion pieces.

Kim Daewook, CEO of Naver Z, said, "Through this investment, the collaboration between the two companies will become a catalyst for innovation in the global market and will become Zepeto's unique content competitiveness." He added, "We will continue to expand collaborations with global IP holders to provide differentiated services and experiences to users worldwide."

This content was produced with the assistance of AI translation services.