[Courtesy of ZEPETO]
Naver Z said that it would receive 12 billion won from Big Hit Entertainment and YG Entertainment. Big Hit invests seven billion won, saying it would expand a business model through indirect participation by artists to provide an extended fan experience in a virtual environment.
Through the investment, Naver Z said it has secured various contents ranging from fashion to entertainment. Big Hit and YG would create value in the global market using their intellectual property rights and ZEPETO's augmented reality avatar service.
"As users are very active in secondary creative activities using various IPs offered within ZEPETO, we are looking forward to synergy with the two companies," Naver Z CEO Kim Dae-wook said. "We will continue to expand our network with global IP operators and fill ZEPETO's infinite virtual world more abundantly."
In June, BLACKPINK collaborated with ZEPETO to offer fans with characterized models of band members. Through a 3D character creation studio app, users can take selfies with BLACKPINK members using AR technology.
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