At one point in time, a fantasy, but now a reality and a fast growing one at that, creating digital avatars is the new norm in this Internet powered world. Many a company are raking in the moolah with phenomenal rise and expansion of this field worldwide. And users too are benefitting from the same.
And so, is Zepeto, a South Korean-based company having nearly a quarter of a billion users that helps to create digital representations of users. Now, these avatars need clothes and other accessories. And more than $1.6 billion worth of accessories have been sold on Zepeto.
Among the most well-known users on the fashion area of the platform is a Canadian woman Monica Louise, who is known as Monica Quin. She designs and sells digital apparel. And according to BBC, in a report on the metaverse states that she is earning a whopping six-figure salary through her avatar on the platform.
All her apparel is sold using the platform’s currency called ‘Zems’. Each of her item is priced from one to five zems each, and people can purchase these zems in exchange for real money. A creator gets $106, for every sale of 5,000 zems.
According to Louise, “There are clothes that I cannot afford to wear in real life but in the digital world, I can buy all of them. I think that’s one huge factor why I’m really drawn into this.”
The company was formed three years ago and is backed by investors like HYBE, the company that manages the massively popular K-pop sensation BTS. Zepeto is the most preferred first choice of social network for its users, of which 70% are female and teens.
Luxury giants Ralph Lauren and Gucci are too taking advantage of the metaverse, and both are partners with Zepeto to undertake digital representation of apparel.
All of 28, Louise is managing to do well for herself and whether or not this will be a lucrative career or side hustle, remains to be seen.
