Japanese Tech Firms Create ‘Japan Metaverse Economic Zone’

Numerous large Japanese technological, manufacturing, and financial organizations are collaborating to build the infrastructure for an open metaverse in order to advance the country’s Web3 goal.

In a news statement issued Monday, Fujitsu announced a collaboration with nine other firms, including vehicle maker Mitsubishi and global bank Mizuho, to develop an interoperable metaverse structure named RYUGUKOKU (TBD) that would be utilized to expand the “Japan Metaverse Economic Zone.”

According to the news release, the purpose of the metaverse alliance is to assist establish the infrastructure for firms to tap into Web3 marketing, work reform, and customer experience efforts. RYUGUKOKU (TBD) would function as a virtual environment that connects users to various Web3 services developed by businesses and government organizations.

The platform will also employ “Auto-Learning Avatars,” which will collect user data in order to create a tailored metaverse experience. The “Pegasus World Kit” will assist users in creating gamified metaverse experiences, and its “Multi-Magic Passport” will enable identity and payment options to allow metaverse interoperability.

Japan is attempting to incorporate Web3 technology into its national agenda. Prime Minister Fumio Kishia said in October that the nation will invest in digital transformation services such as non-fungible tokens (NFTs) and the metaverse. In November, the country’s Digital Ministry announced intentions to establish a decentralized autonomous organization (DAO) to assist government institutions in transitioning to Web3.