Internet group Naver’s metaverse subsidiary will use the cash to support game studios in its ecosystem.

Naver Z, a 3D avatar and digital space design-focused subsidiary of South Korea-based internet conglomerate Naver Group, has formed a $100m metaverse fund, TechCrunch has reported.

Formed in 2018, Naver Z operates online metaverse platform Zepeto, which enables users to develop and access metaverse spaces with custom avatars.

The fund is set to launch in the coming months and will reportedly be used to support the plugin Naver Z recently launched in partnership with 3D content creation platform Unity that…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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