Mitsubishi, Fujitsu and Other Japanese Giants to Build a ‘Japan Metaverse Economic Zone’

Leading Japanese technology, manufacturing and finance giants are joining forces to build a framework for an open metaverse in order to boost Japan’s Web3 development.

On the 27th of February, Fujitsu, an IT services company, issued a press release declaring their partnership with nine major companies, including automaker Mitsubishi and global bank Mizuho, to expand the “Japan Metaverse Economic Zone” through RYUGUKOKU (TBD), an interoperable metaverse structure.

RYUGUKOKU (TBD) aims to become a virtual environment that connects users of various Web3 services created by businesses and government agencies.

As stated in the press release, the metaverse alliance seeks to help corporations tap into Web3 marketing, reforming work processes and improving the consumer experience.

The platform will also employ “Auto-Learning Avatars,” which will collect user data in order to create tailored user avatars. The accompanying “Pegasus World Kit” will assist users in creating gamified metaverse experiences, and the “Multi-Magic Passport” will include identification and payment options for internal interoperability.