Fujitsu, Sumitomo Mitsui, and Other Major Japanese Companies Join Forces to Build Open Metaverse Infrastructure

By 0xGorki On Feb 27, 2023

A consortium of ten Japanese companies has signed a basic agreement to develop an Open Metaverse Infrastructure called “RYUGUKOKU” and create a “Japan Metaverse Economic Zone.” The companies involved in the project are JCB, Mizuho Financial Group, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group, Resona Holdings, Sompo Japan Insurance, Toppan, Fujitsu, Mitsubishi Corporation, and TBT Lab. They will use the Metaverse construction framework “PEGASUS WORLD KIT” developed by JP GAMES Inc., a TBT Lab group company, to build the infrastructure.

The concept of “RYUGUKOKU” is based on the idea of “updating Japan through the power of games” by Hajime Tabata, the founder of JP Games and the Web 3.0 advisor for the Japanese Government’s Digital Agency. The infrastructure will serve as a new social infrastructure for enterprise DX such as information dissemination, marketing, work style reform, as well as consumer DX and consumer EX.

“RYUGUKOKU” is a Metaverse infrastructure that incorporates elements of an online alternate-world role-playing game based on a unique fantasy worldview of its own. Each Metaverse service and content presented inside “RYUGUKOKU” takes on the form of a moving “city,” “castle,” or “vehicle” that roams around the virtual world. Users will be able to engage in an RPG-like experience as they travel through different realms and encounter a variety of content and services.

Additionally, “RYUGUKOKU” will deliver an open and secure Metaverse infrastructure that enables safe and stable use of identity authentication, various payments, data infrastructure, insurance, etc., through collaboration with leading Japanese financial institutions, major corporations, and TBT Lab Group. The project aims to expand the “Japan Metaverse Economic Zone” globally by providing this infrastructure to companies and government agencies outside of Japan.

The project will also offer three solutions for the promotion of DX and EX. The first solution is the “AUTO LEARNING AVATAR,” which automatically learns each avatar’s behavior as a digital twin through the avatars and provides personalized information on health care, hobbies, and other topics. The second solution is the “PEGASUS WORLD KIT” (PWK), which is an advanced tool for creating Metaverse services and game services for “RYUGUKOKU” to construct an entertaining and experience-oriented system. The third solution is the “MULTI MAGIC PASSPORT” (MMP), which is an authentication certificate with a payment function that allows users to freely travel to and from Metaverse services within “RYUGUKOKU.”

The companies involved in the project have different roles and expertise. JCB will provide functions and expertise in MMP/ID authentication and building a digital twin for merchants. Mizuho Financial Group will provide functions and expertise in the MMP/payment area, provision of Metaverse coins, and regional DX collaboration. Sumitomo Mitsui Financial Group will promote gamification, support PWK development, and build a creator economy. Mitsubishi UFJ Financial Group will provide support in establishing MMP functions, Web3-type metaverse financial functions, and overseas expansions.

The project’s media conference is scheduled for early summer, and the consortium plans to invite more companies to support the concept and expand the Japan Metaverse Economic Zone. The project aims to create a new virtual world that offers a unique experience to users and a new business opportunity for companies in Japan and around the world.

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