Japan’s Tech Giants Join to Create ‘Metaverse Economic Zone’

  • A group of prominent Japanese technology companies, including Fujitsu and Mitsubishi, have agreed to create the “Japan Metaverse Economic Zone” and an open metaverse infrastructure called “Ryugukoku”.
  • The aim of these initiatives is to provide interoperable tools for users and developers across various platforms and serve as a new social infrastructure for enterprise digital transformation.
  • Companies involved in the agreement include Fujitsu, Mitsubishi and TBT Lab — among others.

Creating the Japan Metaverse Economic Zone

A group of well-known tech companies in Japan have come together on Feb. 27th to forward the creation of the “Japan Metaverse Economic Zone”. This initiative will bring more opportunities to the country’s metaverse sector.

Open Metaverse Infrastructure: Ryugukoku

The agreement focuses on building an open metaverse infrastructure called “Ryugukoku”, which will enable users and developers across different platforms to benefit from interoperable tools. The aim is to create a new social infrastructure for enterprise digital transformation. Companies who have signed this agreement will combine their respective technologies and services in order to build Ryugukoku.

Other Initiatives Supporting Cool Japan Strategy

Japanese regulators have been focusing on financial technology sector as part of the government’s “Cool Japan” strategy. In November 2022, Digital Agency launched its own DAO while Bank of Japan announced plans for official central bank digital currency pilot before May 2023.

Participating Companies

Japanese companies involved in this agreement include Fujitsu, Mitsubishi, TBT Lab — among others. These companies will integrate their technologies and services into Ryugukoku helping create an ecosystem that benefits users based in Japan.

“Providing this Infrastructure Outside of Japan”

The agreement also mentions the future possibility of providing this open metaverse infrastructure outside Japan as well – allowing international businesses and government agencies access to it.

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