There is a person named Zepeto.
Lauren x Zepeto
The internet's next iteration is opening its doors to smaller creators, like a 28-year-old digital clothing designer who is making top dollar on the biggest metaverse platform in Asia.
South Korea-based Zepeto has over a quarter of a billion users, and its app allows people to create digital representations of themselves. More than 1.6 billion virtual fashion items have been sold on Zepeto.
Monica Louise, a Canadian woman known as Monica Quin, is one of the most well-known users of the platform's fashion world.
Louise is mentioned in a broader story about the metaverse, and she makes an impressive six-figure salary.
Louise's dresses, tops, and other items can be purchased from one to five zems each. The creators of zems receive $106 for every sale of 5,000 zems.
Louise said that she can buy all of the clothes she can't afford in real life, but in the digital world. I think that's a huge factor in why I'm drawn into this.
A funding round led by Japanese conglomerate Softbank gave a $1 billion valuation to Zepeto, which started three years ago. The company that manages K-pop sensation BTS was among the investors.
70% of its users are female. Rudy Lee said that Zepeto is the first social network for a lot of its users.
Digital representations of clothes from Gucci and Ralph Lauren are included in other partnerships with Zepeto. The focus has been on fashion in other parts of the metaverse. The Fashion District's virtual land sold for over $2 million.
The CEO of Metaverse Group told Insider that the Fashion District purchase was similar to the creation of Rodeo Drive.
Business Insider has an original article.