Web3

Japanese Firms Collab To Create Open Metaverse Infrastructure

Japanese Firms Collab To Create Open Metaverse Infrastructure

Fujitsu a multinational information and communications tech firm, has led a group of ten major Japanese companies in collaboration to creating the infrastructure for Japan's open metaverse and immerse the country into Web3.

In the official agreement posted on its website, Fujitsu announced the creation of an Open Metaverse Infrastructure on February 27, marking a milestone in Japan's Web3 efforts. Along with Fujitsu, Japanese manufacturing giant Mitsubishi as well as financial giants Mizuho and Sumitomo Mitsui are among the project's members. The infrastructure itself is to be made by JP Games (under the TBT Lab), whose founder and CEO is no less than Hajime Tabata, famed game director and producer of the Final Fantasy series.

The metaverse infrastructure, called RYUGUKOKU (TBD) is meant to "update Japan through the power of games" as envisioned by Tabata, who also serves as the Web3 advisor of Japan's Digital Agency. RYUGUKOKU will incorporate elements of role-playing games in order to ease its users into the different Web3 services offered by companies and government agencies.

There are three main features of the infrastructure. One is the "Auto-Learning Avatar" function created to provide the user a more personalized metaverse experience. The "Pegasus World Kit" will enable users to create their own gamified events within the metaverse. The "Multi-Magic Passport” is a payment function optimized for the different services.

Japan has been inching closer to integrating Web3 into its financial and governmental agenda. Prime Minister Fumio Kishida back in October has announced further expansion into the metaverse and investments to digital technology. The following month, the country's Digital Agency announced plans to develop its own decentralized autonomous organization (DAO). Japan has been steadily investing and exploring the possibilities of Web3 with Kishida claiming that NFTs and DAOs can be the key to revitalize Japan's other regions and further promote Japanese culture to the world.

2023 started out tough for cryptocurrency in Japan with Kraken pulling out just before the year started and Coinbase following suit in the middle of January. Some light at the end of the tunnel was the launch of the country's own central bank digital currency (CBDC) primed for this April. Now, the unveiling and construction of Japan's own metaverse project looks to be the catalyst to further propel the country's digital transformation.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

 

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