Mitsubishi Motors Corporation, the famous Japanese multinational automobile manufacturer, has partnered with several other Japanese technology, manufacturing, and finance firms to launch a joint metaverse project.
Mitsubishi Joins Other Tech Firms To Launch Metaverse Project
In a February 27 press release, Mitsubishi confirmed partnering with several other technology, manufacturing, and finance companies to create the infrastructure for an open metaverse to propel the nation’s metaverse adoption.
The metaverse integration brought together popular Japanese firms, including JCB Co., Ltd., Mizuho Financial Group, Sumitomo Mitsui Financial Group, Mitsubishi UFJ Financial Group, Resona Holdings, Sompo Japan Insurance, Toppan, Fujitsu Ltd, and TBT Lab.
Under the new integration, these companies aimed at creating the infrastructure for an open metaverse dubbed RYUGUKOKU (TBD) that will be used to expand the “Japan Metaverse Economic Zone.”
What Is RYUGUKOKU, And What Does It Features?
RYUGUKOKU is a Metaverse infrastructure that incorporates elements of an online alternate-world role-playing game, also referred to as “RPG,” based on a unique fantasy worldview of its own. The platform will help users, tech firms, and government agencies interact and launch consumer experience initiatives in the metaverse.
The metaverse infrastructure will consist of three main features: Auto-Learning Avatars, which will collect user information to provide a metaverse experience, The Pegasus World Kit, which will help users create gamified metaverse and Multi-Magic Passport, which will provide identification during payment in the metaverse.
It’s worth noting that Japan has been at the forefront among the nations adopting metaverse technology. In October 2022, Fumio Kishia, the Prime Minister of Japan, revealed that the country would invest billions of dollars in digital spaces, including NFTs and the metaverse.
In November 2022, the digital ministry announced plans to create a decentralized autonomous organization to help government agencies adopt the metaverse. Earlier this week, Animoca Brands partnered with Passion Labs to empower users with data ownership and brands to build communities in the metaverse.
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