Japan Metaverse Economic Zone is in works

Japan takes another lead in the Metaverse sphere by bringing together a set of ventures willing to construct the Japan Metaverse Economic Zone. The ultimate objective is to create an open metaverse infrastructure from the perspective of role-playing games. Ventures coming on board with the plan will help players move from one metaverse ecosystem to another in the most seamless manner possible.

Partners who have signed an agreement for the Japan Metaverse Economic Zone are:

  • Mitsubishi Corporation
  • Sompo Japan
  • Resona Group
  • TBT Lab
  • Toppan
  • Mizjhu
  • JCB
  • SMBC
  • MUFG

The agreement by all of them merely takes the concept by Hajime Tabata forward, which states that Japan can be updated with the power of games. Tabata is the founder of JP Games and a Web 3 advisor to the Japanese government. An overall framework for the zone will be based on the Pegasus World Kit that has been developed by Tabata-JP Games.

It carries the simple idea of taking Japan forward by leveraging gaming technology and allowing every company to endorse the space uniquely.

This becomes a necessity following the constant rise in demand for DX. Partners who join the team bring their respective expertise in the specialized department. This includes, but is not limited to, marketing, dissemination of information, and reforming the style of work. Furthermore, the agreement’s goal is to improve the customer experience.

RYUGUKOKU is the Open Metaverse Infrastructure that will promote interoperability among different metaverse platforms. It incorporates different elements of role-playing games existing on the internet, especially in the metaverse.

The virtual world is simply the next big thing, and companies are surely targeting it to reach a large number of customers in an innovative manner. Some brands opened their stores in the metaverse, while others made it possible to attend an event without being physically present in front of their favorite celebrity.

Japan brings a slight change by taking on the concept with the introduction of a moving city. That is, it would roam around the virtual world while users explored it, encountering various types of services and content. RYUGUKOKU brings together the payment infrastructure, data infrastructure, and insurance, among many others.

Once the response is good, the Japan Metaverse Economic Zone will open its doors to governments and companies outside the country to ensure that its presence spreads across the globe with no restriction to Japan only.

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A total of three solutions have been proposed to promote EX and DX under the Japan Metaverse Economic Zone. These are the Auto-Learning Avatar, Pegasus World Kit, and Multi Magic Passport.

Auto-Learning Avatar will see digital avatars develop themselves to learn behaviors and provide information related to hobbies, health care, and other topics as well. Similarly, the Pegasus World Kit and Multi Magic Passport will allow for the creation of entertainment systems and authentic payment functions. 

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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