Zepeto, the once popular face-pinching software, can it support the Web3 metaverse ZepetoX?

Written by Zen, PANews

On October 16, metaverse project ZepetoX announced that its ZTX token has completed the genesis airdrop and is available on Bybit, Gate.io, Bithumb, Coinone, and SushiSwap. After the launch of Bybit and Gate.io that afternoon, the price of ZTX briefly exceeded $0.025, and then fell all the way down at night, falling as low as nearly $0.014, and as of 3 pm on October 17, the price of ZTX was 0.0145, and the total market value in circulation was $144 million.

ZepetoX is an Arbitrum-based Web3 metaverse project jointly built and incubated by Jump Crypto and Zepeto. In August, ZepetoX closed a $13 million seed round led by Jump Crypto, with participation from Collab+Currency, Parataxis, MZ Web3 Fund and Everest Ventures Group.

! [Zepeto, the once popular face pinching software, can support the Web3 metaverse ZepetoX?] ](https://img-cdn.gateio.im/webp-social/moments-69a80767fe-50cde84ef2-dd1a6f-69ad2a.webp)

Back to head** Metaverse Zepeto** under the Korean Internet giant

As the only blockchain project fully supported by Zepeto, ZepetoX will be able to make full use of the former's technical experience, content assets, existing IP and users accumulated over the past few years.

Launched in 2018, Zepeto was developed by Snow, a subsidiary of South Korean internet company Naver, before being spun off from Snow's business in May 2020 and operated by Naver Z, a virtual universe subsidiary. The app is a virtual fashion social platform where you can freely create a personal digital presence, and currently has more than 400 million users worldwide.

! [Zepeto, the once popular face pinching software, can support the Web3 metaverse ZepetoX?] ](https://img-cdn.gateio.im/webp-social/moments-69a80767fe-aeb987e731-dd1a6f-69ad2a.webp)

In Zepeto, users need to design their faces and facial features according to their personal preferences, commonly known as "pinching faces", and then buy fashion clothing and accessories on the platform to dress up their avatars, or purchase to unlock different postures, movements, and choose different photo backgrounds to take photos with friends. In addition, Zepeto also has a UGC mode, users can use the tools of the Zepeto platform to produce and sell various virtual items, including clothes, and earn money. In addition to avatars, Zepeto has created a virtual game world where users can navigate their own avatars, go to haunted houses, classrooms, schools, virtual attractions, etc., and attend parties, camping or even virtual weddings with friends.

Based on the excellent face pinching system and certain social attributes, Zepeto quickly spread to the world shortly after its launch, especially in Asian countries dominated by China, Japan and South Korea, dominating the top ten APP Store for several months. At the beginning of 2019, its product "cub" Zepeto specifically for Chinese users was officially launched and became Zepeto's largest market. At the end of 2021, Zepeto announced a Series B financing of about US$189 million at a valuation of more than US$1 billion, of which Vision Fund 2, a subsidiary of Japan's SoftBank Group, invested US$150 million, and the remaining US$41 million came from Mirae Asset, k-pop brokerage JYP, BTS brokerage HYBE, and YG Entertainment.

On August 25 of this year, ZepetoX launched a traffic promotion on Zepeto, where users who create a ZepetoX account will receive a virtual ZTX-branded hoodie that can be used on both platforms. According to ZepetoX official statistics, the campaign attracted more than 200,000 new users in various regions of the world, including several Zepeto creators who have more than 8 million fans on the Zepeto platform.

**Web3 《The Sims 4》

ZepetoX builds on the foundation and success of Zepeto, based on blockchain technology, ZepetoX extends the existing capabilities in Zepeto, enabling users not only to create their own digital identities, but also to convert the on-chain assets they have created with creativity and time, into money and income.

Leveraging Zepeto's infrastructure, ZepetoX has released Avatar Builder. IT PROVIDES THE SAME CHARACTER CREATION AND DRESSING EXPERIENCE AS ZEPETO, AND ALL USERS CAN CUSTOMIZE THEIR DIGITAL AVATAR. After entering the world of ZepetoX, each user will receive a "virtual villa" for free, consisting of a piece of land and a house, through the decorator mode, users will be able to freely design and decorate it, such as planting plants, home decoration, etc. Players can also harvest resources and mine minerals and use them to craft digital assets, including placeable furniture items, wearable clothing items, and more. According to the second round of game testing conducted recently, ZepetoX's upcoming ZTX Beta focuses on the design and decoration of characters, houses, and land in the overall gameplay, which is closer to the core gameplay of "pinching face" + "building a house" in "The Sims 4".

! [Zepeto, the once popular face pinching software, can support the Web3 metaverse ZepetoX?] ](https://img-cdn.gateio.im/webp-social/moments-69a80767fe-65776d7be2-dd1a6f-69ad2a.webp)

ZepetoX also introduced the concept of zones, now divided into four zones: games, art, finance, and fashion, each of which has the option to build, delegate and host experiences such as portal games and events, and share the benefits from the rewards earned. To join a certain region, players will need to purchase a District Home NFT to acquire a house in a certain area, which will also apply to the decoration mode.

ZTX Genesis Home Mint, the first NFT collection issued by ZTX, went live in August this year and consists of 4,000 unique 3D rendered District Home NFTs with a public price of 0.06 ETH, and a floor price of 0.21 ETH as of October 17, 2023. Genesis Residences offer owners more benefits, including more crafting options and faster item crafting, and by owning more homes, users also have more opportunities to participate in the game.

ZepetoX** Tokenomics**

The ZTX token is the native token of ZepetoX and will be used primarily for governance, purchase of game assets and in-game feature services. Specifically, various in-game assets such as furniture and clothing created by users in ZTX Beta will be minted as ERC721 and ERC1155 NFTs. These digital assets are sold through smart contracts and denominated in ZTX tokens. In-game useful features include services such as "skip timer", "quick withdrawal" and "quick harvest" for ZTX tokens, as well as other timing-related functions.

THE TOTAL SUPPLY OF ZTX TOKENS WILL BE FIXED AT 10,000,000,000, 1.0% TO ZTX INITIAL LIQUIDITY, 4% TO MM LIQUIDIT, 4% TO GENESIS AIRDROPS, 5.5% TO EARLY INVESTORS AND ADVISORS (6-MONTH LOCK-UP PERIOD, 2-YEAR VESTING PERIOD), 9.5% TO ZEPETO (1.5-YEAR LOCK-UP PERIOD, 4-YEAR VESTING PERIOD), 35% TO X2E INCENTIVES (1-MONTH LOCK-UP PERIOD, 4-YEAR VESTING PERIOD), 16% Allocated to the code team (6 months lock-up period, 3-year vesting period), 15% to the ZTX fund treasury (no lock-up period, 3-year vesting period), and 10% to community funds (1-month lock-up period, 3-year vesting period).

! [Zepeto, the once popular face pinching software, can support the Web3 metaverse ZepetoX?] ](https://img-cdn.gateio.im/webp-social/moments-69a80767fe-6988032e6c-dd1a6f-69ad2a.webp)

For players who own District Home NFTs, ZTX tokens can be purchased on various exchanges and earned in-game. Players can collect Genesis Dark Matter on the land of Genesis House, and make $ZTX capsules by crafting a furnace, which can be exchanged for ZTX tokens after collecting personal inventory. $ZTX capsules are divided into several types, and the more difficult it is to make, the more ZTX tokens can be exchanged.

Unlike the recently popular 3A-level chain game masterpiece Big Time, which launched BIGTIME tokens after handing over a good answer, ZepetoX first began to sell ZTX tokens without officially launching the product.

In its 2022 year-end summary, ZTX looked ahead to the progress of the project in 2023, saying that it plans to release its first NFT "ZTX Genesis Home" in the first half of this year and the ZTX Beta in the third quarter, including core gameplay, downtown social experience, and multiplayer portal games.

In reality, however, the "Genesis Home" minting event was postponed until August, and the public sale at OpenSea did not begin until August 30. In addition, the project team is currently preparing the final round of 3 rounds of game testing, and it may be some time before the ZTX Beta is officially released.