On February 27, 2023, a group of technology companies in Japan entered into an agreement to go ahead with the creation of “Japan Metaverse Economic Zone,” as stated by Cointelegraph.
According to Cointelegraph, the agreement intends to develop an open metaverse platform called “Ryugukoku,” for metaverse-based growth. It is believed that the initiative will emphasise on development of interoperable tools for users and developers belonging to different platforms.
On the basis of information by Cointelegraph, insights from the agreement stated that the companies will correlate their “respective technologies and services” to create Ryugukoku, along with gamification, financial technology (fintech), and information and communication technologies. The agreement has also highlighted the possibility of “providing this infrastructure to companies and government agencies outside of Japan.” Reportedly, Japanese companies such as Fujitsu, Mitsubishi, TBT Lab, among others, are part of the agreement.
Moreover, Cointelegraph noted that on February 1, 2023, Japanese prime minister spoke on decentralised autonomous organisations (DAOs) and non-fungible tokens (NFTs) for backing the government’s “Cool Japan” strategy. In recent context, Bank of Japan revealed its plans to launch its official central bank digital currency pilot prior to May, 2023.
(With insights from Cointelegraph)