According to a press release posted by Fujitsu, the corporation and other technology firms have signed an agreement to create the “Japan Metaverse Economic Zone.”
Among the nine firms with which Fujitsu inked the deal are Mitsubishi, Mizuho, Resona, Sompo Japan, Toppan, SMBC, and others.
As part of this agreement, all signing companies are committed to developing Web3 activations and making Japan a leader in this field.
In particular, the companies will join forces to create an Open Metaverse Infrastructure named “Ryugukoku,” which will function as a hub for connecting Web3 services developed by companies and government organizations.
The companies will also collaborate to develop auto-learning digital avatars, a tool called Pegasus World Kit for developing games and services in the metaverse, and a Multi Magic Passport that permits users to move freely between Ryugukoku’s Metaverse spaces.
Japan is one of the leading countries dedicated to investing in Web3; in October, Prime Minister Fumio Kishida mentioned non-fungible tokens (NFTs) and the metaverse as part of the country’s digital transformation investment plans.
Many Japanese organizations have already explored the Web3 space; in July, SMBC Group announced a partnership with HashPort to explore NFT and Web3 projects, while in April, Japan’s messaging service LINE launched an NFT marketplace, where users can buy, trade, hold, and list NFTs.
