LG Uplus Partners with Fashion Firms to Launch Metaverse Commerce in South Korea July 10, 2023 July 10, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 10, 2023 by Kelly Cromley

LG Uplus Partners with Fashion Firms to Launch Metaverse Commerce in South Korea

South Korean telecommunications company, LG Uplus Corp., has embarked on a fashion metaverse venture in collaboration with clothing store Meta Slap, targeting the development of metaverse commerce within the fashion industry.

LG Uplus recently announced the signing of a memorandum of understanding (MOU) with domestic fashion firms Z-Emotion and Ation Fashion. Z-Emotion specializes in the development of 3D simulation-based costume design software, while Ation Fashion is the owner of the casual brand Polham, which devised a method in May to create metaverse costumes.

The three entities will jointly operate a fashion boutique within Meta Slap, utilizing an innovative concept that merges the real and virtual worlds. This groundbreaking clothes store will offer avatar clothing and accessories alongside offline merchandise, with the website serving as a platform for production and marketing.

An LG Uplus source highlighted the popularity of avatar customization in the metaverse, citing the example of San Mateo-based platform Roblox, where five out of ten metaverse users dress up their avatars at least once a week. In line with this trend, the three partners plan to integrate their metaverse business with an artificial intelligence fitting room.

LG Uplus aims to tap into the growing metaverse industry by combining its telecommunications expertise with the fashion knowledge and technological capabilities of Z-Emotion and Ation Fashion. This strategic partnership seeks to create immersive metaverse experiences for fashion enthusiasts and advance the metaverse commerce landscape in South Korea.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.