Digital actuality investments a long-term play says South Korea’s Zepeto

Companies trying to seize the following era of consumers are doing so via digital actuality headsets, in response to the chief technique officer of South Korean avatar app Zepeto.

Investments within the “metaverse” — a shared digital actuality house that enables people to work together with different customers inside a digital atmosphere — are taking off in industries spanning meals and beverage, retail and music, Rudy Lee informed CNBC Wednesday.

It comes as firms search to place themselves for longer-term tech traits, he stated.

For its half, Zepeto — which is backed by South Korea’s web service supplier Naver — has seen elevated demand from company companions this yr, stated Lee. There are round 100 firms at present utilizing the platform to advertise their manufacturers to its 200 million-strong person base, he added.

When these individuals are investing within the metaverse by way of us … they’re trying to have their presence right here for the long-term

“When these individuals are investing within the metaverse by way of us, they’re doing so not with a six-month or a one yr outlook. They’re trying to have their presence right here for the long run,” he stated.

Particularly, company companions view Zepeto as a way of focusing on Gen Z customers. The six to 24-year-old cohort account for greater than 80% of these customers who create customized characters and pay for digital tokens on the platform, stated Lee.

Two medical employees put on masks whereas expertise VR video games in the course of the third World Well being Expo held on April 8, 2021 in Wuhan, Hubei Province, China.

Getty Photos | Getty Photos Information

“I feel the businesses wanting in direction of that demographic in addition to the longer term are positively taking a look at this from a really long-term perspective,” he famous.

Digital actuality platforms have lengthy offered visions for the way customers could work together sooner or later. However Lee stated the pandemic has additional instilled present tech traits, making these ambitions extra life like.

“I feel it (the pandemic) had a long-lasting influence on the best way we take a look at digital issues,” Lee stated.

“The final consensus is that this time it’s completely different,” he continued. “Actually due to Covid and the way it has impacted the best way we work together with one another. Additionally the overall rise of cellular, 5G, gaming. I feel all of those elements make for a really strong atmosphere for us.”

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