With the establishment of the “Japan Metaverse Economic Zone,” a collection of Japanese corporations, including Mitsubishi, Fujitsu, and the banking group Mizuho, have announced a partnership to further push Japan’s metaverse objectives. JP Games’ “Pegasus World Kit” (PWK) metaverse creation framework will be used in the partnership. Hajime Tabata, former Square Enix executive and JP Games CEO, will lead the partnership to “update Japan through the power of games.” The firms involved have promised to combine their technologies and services, such as gamification and finance, to help strengthen Japan’s technology infrastructure. Ryugukoku is anticipated to build a safe and secure metaverse infrastructure for identity identification, insurance, payments, and data infrastructure. Mitsubishi and Mizuho have agreed to supply the infrastructure for “metaverse coins” and the “multi-magic passport” (MMP). Sompo Japan Insurance will concentrate on developing insurance and risk policies for the Web3 age.
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