- Japanese tech and financial services companies are collaborating to build the “Japan Metaverse Economic Zone”.
- The project will feature an open metaverse called RYUGUKOKU, using the PEGASUS WORLD KIT framework.
- The metaverse will showcase gamified 3D virtual worlds highlighting different aspects of Japanese culture.
- Ten companies have signed the agreement, including Mizuho Financial, JCB, Sumitomo Mitsui Financial, Fujitsu, Mitsubishi, TBT Lab, Sompo Japan Insurance, and Toppan.
- The RYUGUKOKU metaverse will operate as a new social infrastructure for businesses to launch digital experiences, marketing campaigns, and consumer-facing products.
- The platform will leverage Japan’s secure financial infrastructure through banks and other financial services companies.
- A standalone RPG based on a unique fantasy world will be featured in the metaverse, and users can move through different realms to sample goods and services.
- The companies aim to expand the metaverse infrastructure to other companies and government agencies, thus expanding the Japan Metaverse Economic Zone to the rest of the world.
Several leading Japanese tech and financial services companies have come together to form the “Japan Metaverse Economic Zone.” The consortium comprises 10 companies, including Mizuho Financial, JCB, Sumitomo Mitsui Financial, Fujitsu, Mitsubishi, TBT Lab, Sompo Japan Insurance, and Toppan, which have all signed an agreement to build an open metaverse called RYUGUKOKU.
The initiative is inspired by the vision of Hajime Tabata, creator of JP Games, who aims to bring innovation to Japan through gaming. The companies will use the PEGASUS WORLD KIT metaverse construction framework to build gamified 3D virtual worlds that feature various aspects of Japanese culture.
The RYUGUKOKU Metaverse
RYUGUKOKU will serve as a new social infrastructure for businesses to launch digital experiences, including marketing campaigns, information sharing, and consumer-facing products, among others. It will allow organizations that signed the agreement to operate interoperable metaverses, which will enable the companies to provide their goods and services in a virtual environment.
The RYUGUKOKU metaverse will feature a standalone role-playing game (RPG) based on a unique fantasy world, which users can navigate through to access different realms and encounter various content and services. The different metaverse services and content presented within RYUGUKOKU will take the form of moving cities, castles, or vehicles that roam around the virtual world.
New Social Infrastructure “RYUGUKOKU”
The metaverse platform will leverage Japan’s secure financial infrastructure, with banks and other financial services companies that signed up for the initiative. This will enable the “Metaverse Economic Zone” to provide a secure infrastructure that allows for the safe and stable use of identity authentication, various payments, data infrastructure, and insurance, among other services.
The companies behind the initiative also plan to expand the metaverse infrastructure to other companies and government agencies, thus expanding the Japan Metaverse Economic Zone to the rest of the world.
The consortium’s initiative to build an open metaverse highlights the increasing interest in metaverse technology, which is expected to have a significant impact on various industries, including gaming, entertainment, and even e-commerce.
The use of secure financial infrastructure to enable safe transactions within the metaverse is an innovative approach that could help accelerate the adoption of this technology. The Japan Metaverse Economic Zone could be a significant step forward in the development of metaverse technology, and its success could inspire other similar initiatives in different parts of the world.