{"id":614083,"date":"2023-03-04T06:51:26","date_gmt":"2023-03-04T12:51:26","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/04\/japanese-firms-to-collaborate-on-a-metaverse-economic-zone-project-powered-by-gaming\/"},"modified":"2023-03-04T06:51:26","modified_gmt":"2023-03-04T12:51:26","slug":"japanese-firms-to-collaborate-on-a-metaverse-economic-zone-project-powered-by-gaming","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/04\/japanese-firms-to-collaborate-on-a-metaverse-economic-zone-project-powered-by-gaming\/","title":{"rendered":"Japanese firms to collaborate on a Metaverse Economic Zone project powered by gaming"},"content":{"rendered":"

Home<\/a><\/span> \u00bb Business<\/a><\/span> \u00bb Japanese firms to collaborate on a Metaverse Economic Zone project powered by gaming<\/span><\/span><\/p>\n

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Several Japanese firms have entered into a preliminary\u00a0agreement<\/a>\u00a0to work on creating the \u201cJapan Metaverse Economic Zone\u201d as part of its bid to improve the country\u2019s digital economy.<\/p>\n

The firms involved in the ambitious project, dubbed \u201cRYUGUKOKU (TBD),\u201d include Mizuho, Mitsubishi Corporation, Fujitsu, SMBC, and Toppan, amongst others. Under the terms of the agreement, the firms will deploy their individual expertise in building the metaverse infrastructure for enterprises and individuals looking to dabble in the virtual world.<\/p>\n

RYUGUKOKU (TBD) will be designed as a virtual world with elements of a role-playing game (RPG) with services illustrated as cities or vehicles in the\u00a0metaverse<\/a>. Users can interact with the services by roaming the virtual world in search of new experiences.<\/p>\n

The ambitious project will be able to glean information from users to create personalized data on health and hobbies with the additional option for scalability. They can use the proposed RPG Editor to launch their own games on the platform in addition to a \u201cMulti Magic Passport\u201d (MMP), an authentication certificate to serve as a payment service for users.<\/p>\n

\u201cFurthermore, by providing this infrastructure to companies and government agencies outside of Japan, we will be able to expand the \u2018Japan Metaverse Economic Zone\u2019 globally,\u201d the press release read.<\/p>\n

Mizuho will use its expertise in banking to provide payment functionalities on the platform, while Sumitomo will provide gamification features. Resona will handle research in next-gen ID authentication and payment, with risk analysis and expansion drive being handled by Sompo and Mitsubishi, respectively.<\/p>\n

No date for the official launch was provided, but the next event on the agenda is a media conference scheduled for early summer. According to the official statement, the collaboration will \u201ccontinue to invite a wide range of companies\u201d to support the project.<\/p>\n

Japan marching into the metaverse<\/strong><\/p>\n

Japanese firms are scrambling for a piece of the metaverse pie driven by consumer and government interest. Video game publishers like Konami and Square Enix are exploring the possibilities of building virtual worlds and\u00a0non-fungible tokens<\/a>\u00a0(NFTs) around their bestselling titles.<\/p>\n

Recently, The Sandbox\u00a0announced<\/a>\u00a0a partnership with Japan-based animation firm Toei Animation that would see fighters from the Dragon Ball franchise make their debut in its virtual world. Prime Minister Fumion Kishida\u2019s\u00a0digital transformation strategy<\/a> disclosed in October 2022 puts NFTs and metaverse development at the top of its objectives.<\/p>\n

Watch: Scaling Games on Layer One Why It Matters<\/p>\n