Japan Transforms Economy to Metaverse

Ten Japanese companies, including industry giants such as Fujitsu, Mitsubishi, and Sumitomo Mitsui, have reached a consensus to propel Japan’s ambitions in the digital realm by creating the ‘Japanese Metaverse Economic Zone.’ This collaboration, formalized on February 27, aims to construct a metaverse platform named ‘Ryugukoku’ utilizing the ‘Pegasus World Kit,’ a metaverse development framework by JP Games. Ryugukoku is envisioned to foster an open and secure metaverse ecosystem, facilitating safe authentication, insurance, payment systems, and data management.

This partnership signifies a strategic move towards establishing a metaverse infrastructure that could potentially extend its services globally, offering its framework to corporations and governmental bodies beyond Japan’s borders.

This initiative aligns with the vision of Japanese Prime Minister Fumio Kishida, who last year announced the country’s investment plans for NFTs and the metaverse, marking a significant step towards integrating digital innovation into Japan’s economic and social fabric.

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