Naver, SoftBank up alliance to leverage on metaverse, mirror world for global foray

Naver is stepping up cooperation with SoftBank to expand the ecosystem of its virtual world platform Zepeto and mirror world platform Arcverse, the two pillar businesses that the Korean internet giant is betting high for global expansion.

Seok Sang-ok, chief executive officer of Naver Labs, said Wednesday that it will produce high-definition (HD) maps for a Japanese city in partnership with SoftBank to create a digital world replicating the real world on Arcverse, using Naver’s new technology Alike, a digital twin solution that creates a virtual replica of a physical object. They plan to test the technology with a Japanese city as a pilot project and apply it to other cities around the world.

Arcverse is Naver’s mirror world platform that allows the creation of a whole new hybrid metaverse territory combining digital and real worlds.

The latest move is part of Naver’s ambition to expand its metaverse ecosystem with its virtual world platform Zepeto and mirror world platform Arcverse. It sees that the platforms could provide unlimited business opportunities as more and more technologies have been applied to the society in the form of smart building and smart city.

With its big bet on the mirror world platform that requires employment of robotics, autonomous driving, augmented reality, computer vision and deep learning technologies, Naver Labs, the tech giant’s research and development unit, has been on an aggressive hunt for skilled engineers and IT specialists in 27 departments. An official from the company said that the research unit does not have a cap on the number of new hires with an aggressive move to recruit anyone skilled and talented.

Naver Z, the operator of Zepeto, said Wednesday that it would raise 223.5 billion won ($189.7 million) by issuing new shares to not only financial investors including SoftBank but also strategic investors including K-pop labels. SoftBank acquired the largest 80 percent of the new shares. The proceeds will be used for new business development and hiring.

Naver Z also recently announced that it would establish a joint venture with Supercat, a Korean mobile game publisher behind “The Kingdom of the Winds: Yeon,” to develop a virtual office platform.

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