This metaverse coin brings together Japanese conglomerates to form an interoperable metaverse. As Kriptokoin.com, we have compiled the details of the metaverse partnership of the Japanese giants for you.
Japanese giants brought together metaverse coin
A group of major Japanese companies, including Mitsubishi, Fujitsu and banking giant Mizuho, have agreed to work together to create a ‘Metaverse Economic Zone’ for the country with the aim of building open metaverse infrastructure.
According to a statement, the group will be driven by former Square Enix executive and JP Games CEO Hajime Tabata’s goal of ‘updating Japan with the power of games’.
Companies that sign the agreement will integrate their technologies and services, including gamification and fintech, to build the technical infrastructure. However, the project is currently called Ryugukoku.
The new social infrastructure will be used for knowledge dissemination, marketing and work style reform for local businesses, the statement said. Users will be able to experience an RPG-like experience while traveling through different realms. The service can also be extended beyond Japan to other jurisdictions and governments.
Infrastructure will be provided for Metaverse coins
Mizuho will provide infrastructure for ‘metaverse coins’, Mitsubishi will provide capacity for ‘web3-type metaverse financial functions’, and Sompo Japan Insurance will work on insurance and risk policy development for the web3 era.
The project reflects attempts by established players to create an open metaverse infrastructure that allows interoperability or the ability to move assets and characters between multiple virtual worlds managed by different companies. However, the Open Metaverse Alliance (OMA) will be led by a DAO and has been running since 2021.
The large tech-heavy Metaverse Standards Forum, sponsored by the Khronos Group, is also trying to accelerate the adoption of general rules for the online space. However, its founding members included the likes of Meta and Microsoft.
Background of the deal
In response to the rapidly growing demand for sandboxed DX among businesses and government agencies, the signatories will integrate their respective technologies and services, including gamification, FinTech, and ICT, to create an Open Metaverse Infrastructure for enterprises.
This infrastructure will enable interoperability and collaboration between different Metaverse platforms and act as a new social infrastructure for enterprise DX such as knowledge dissemination, marketing, work style reform for local businesses, marketing and consumer DX.
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