|

Crypto News

Japan’s Major Firms Team Up to Build “Japan Metaverse Economic Zone”

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

japan metaverse economic

Join our growing community


Several significant Japanese companies in the technology, manufacturing, and finance sectors are working together to construct the necessary framework for an accessible metaverse to push the country’s Web3 objective forward.

On Monday, Fujitsu communicated through a press release that it will collaborate with nine other companies, such as Mitsubishi and Mizuho, to create an interoperable metaverse system named RYUGUKOKU (TBD) in order to expand the “Japan Metaverse Economic Zone.”

According to the press release, the objective of the metaverse alliance is to assist firms in implementing Web3 marketing, work reform, and consumer experience projects. RYUGUKOKU (TBD) will be a virtual environment that connects users to Web3 services developed by businesses and government agencies.

The platform will also incorporate “Auto-Learning Avatars,” which collect information about users to deliver a customized metaverse experience. The “Pegasus World Kit” will assist users in creating gamified metaverse experiences, while the “Multi-Magic Passport” will enable identity and payment mechanisms to facilitate interoperability throughout the metaverse.

Incorporating Web3 technology into its national agenda, Japan has taken several steps to invest in digital transformation services such as non-fungible tokens (NFTs) and the metaverse. Prime Minister Fumio Kishia stated in October his commitment to such investments. Additionally, in November, the country’s Digital Ministry revealed the pursuits to create a decentralized autonomous organization (DAO) aimed at helping government organizations implement Web3 technology.