TOKYO, Feb 27, 2023 – (JCN Newswire via SEAPRWire.com) – JCB Co., Ltd., Mizuho Financial Group, Inc., Sumitomo Mitsui Financial Group, Inc., Mitsubishi UFJ Financial Group, Inc., Resona Holdings, Inc., Sompo Japan Insurance Inc., Toppan Inc., Fujitsu Ltd., Mitsubishi Corporation and TBT Lab Inc. have signed a basic agreement(1) for the building of an Open Metaverse Infrastructure called “RYUGUKOKU (Name TBD)” using the Metaverse construction framework “PEGASUS WORLD KIT” (PWK) developed by JP GAMES Inc., a TBT Lab group company, and the creation of the “Japan Metaverse Economic Zone.”(2)
This agreement is based on the concept of “updating Japan through the power of games” by Hajime Tabata, a globally renowned game creator, founder of JP Games, and the Web 3.0 advisor for the Japanese Government’s Digital Agency, and is an industrial DX(3) initiative that utilizes gaming technology and was established by way of each company’s endorsement of the concept.
1. Background and Purpose of the Basic Agreement
In response to the rapidly growing demand for DX utilizing the virtual domain among enterprises and government agencies, the companies that signed this agreement will integrate their respective technologies and services, including gamification, FinTech, and ICT, to build an Open Metaverse Infrastructure for enterprises called “RYUGUKOKU (TBD).” This infrastructure will enable interoperability between different Metaverse platforms, as well as collaboration among Metaverse platforms, and will serve as a new social infrastructure for enterprise DX such as information dissemination, marketing, work style reform for domestic enterprises, marketing, as well as consumer DX and consumer EX (Experience Transformation).
2. “RYUGUKOKU (TBD)” is a Metaverse infrastructure with a Worldview
RYUGUKOKU (TBD) is a Metaverse infrastructure that incorporates elements of an online alternate-world role-playing game (RPG) based on a unique fantasy worldview of its own.
Each Metaverse service and content presented inside RYUGUKOKU (TBD) takes on the form of a moving “city,” “castle,” or “vehicle” that roams around that virtual world. Users will be able to engage in an RPG-like experience as they travel through different realms and encounter a variety of contents and services.
Additionally, RYUGUKOKU (TBD) 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. Furthermore, by providing this infrastructure to companies and government agencies outside of Japan, we will be able to expand the “Japan Metaverse Economic Zone” globally.
3. Three solutions for the promotion of DX and EX
(1) “AUTO LEARNING AVATAR” (hereafter ALA)
“RYUGUKOKU (TBD)” automatically learns each avatar’s behavior as a digital twin through the avatars and provide personalized information on health care, hobbies, and other topics. In addition to users being able to acquire useful information through their avatars, they will be able to apply their personalized information in each Metaverse space.
(2) “PEGASUS WORLD KIT” (PWK)
PWK is an advanced tool for creating Metaverse services and game services for RYUGUKOKU (TBD) to construct an entertaining and experience-oriented system. It is also highly scalable for users, with various functions like the “RPG Editor” to create game events and “RIV Technology” to easily create new Metaverses using photos.
(3) “MULTI MAGIC PASSPORT” (MMP)
MMP is an authentication certificate with a payment function that allows users to freely travel to and from Metaverse services within RYUGUKOKU (TBD). In addition to ID authentication and payment methods, MMP can register useful information for users to spend time in the virtual world, such as NFT, items, avatar skin, and avatar memory. This information will also be used to improve user-friendliness in the real world.
4. Plans for future consideration
A media conference is scheduled for early summer.
We will continue to invite a wide range of companies to support this concept and expand the Japan Metaverse Economic Zone.
5. Roles/overview of each company
(1) Provision of functions and expertise in MMP/ID authentication and building a digital twin for merchants
Company Name: JCB Co., Ltd.
Representative: Ichiro Hamakawa, Chairman & CEO
(2) Provision of functions and expertise in the MMP/payment area, provision of Metaverse coins, and regional DX collaboration
Company Name: Mizuho Financial Group, Inc.
Representative: Masahiro Kihara, President & Group CEO
(3) Gamification promotion, PWK development support, creator economy building
Company Name: Sumitomo Mitsui Financial Group, Inc.
Representative: Jun Ohta, Director President and Group CEO
(4) Provide support in establishing MMP functions (authentication/settlement/data, etc.), Web3-type metaverse financial functions, overseas expansions
Company Name: Mitsubishi UFJ Financial Group, Inc.
Representative: Hironori Kamezawa, President & Group CEO
(5) Joint research in future lifestyles and next-generation ID authentication and payment
Company Name: Resona Holdings, Inc.
Representative: Masahiro Minami, President and Representative Executive Officer
(6) Risk Analysis and Insurance Development for the Web3 Era, including the Metaverse
Company Name: Sompo Japan Insurance, Inc.
Representative: Giichi Shirakawa, President
(7) Interoperation of the MiraVerse Metaverse platform and the AVATECT avatar generation and management platform, and provision of expertise in handling cultural content and expressive technology
Company Name: Toppan Inc.
Representative: Hideharu Maro, President & Representative Director
(8) Provision of Web3-related technologies such as digital data rights management
Company Name: Fujitsu Limited
Representative: Takahito Tokita, Representative Director & CEO, CDXO
(9) Global partner to expand overseas and economic sphere of the Metaverse platform
Company Name: Mitsubishi Corporation
Representative: Katsuya Nakanishi, President & CEO
(10) Provision of gamification functions and expertise, provision of PWK and MMP
Company Name: TBT Lab Inc.
Representative: Hajime Tabata, CEO
(1) a basic agreement:
Date of contract signing: February 16, 2023
(2) Japan Metaverse Economic Zone :
Japan Metaverse Economic Zone: An ecosystem formed by the interoperability between different Metaverse services and Metaverse platforms that utilizes the open Metaverse infrastructure “RYUGUKOKU (TBD)”
(3) Industrial DX:
Realizing the development of entire industries by utilizing a wide range of industrial knowledge and DX functions to connect industries, companies, and communities and solving social issues through the fusion of real and digital technologies
Fujitsu’s purpose is to make the world more sustainable by building trust in society through innovation. As the digital transformation partner of choice for customers in over 100 countries, our 124,000 employees work to resolve some of the greatest challenges facing humanity. Our range of services and solutions draw on five key technologies: Computing, Networks, AI, Data & Security, and Converging Technologies, which we bring together to deliver sustainability transformation. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.6 trillion yen (US$32 billion) for the fiscal year ended March 31, 2022 and remains the top digital services company in Japan by market share. Find out more: www.fujitsu.com.
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