Japan’s Prime Minister Fumio Kishida suggested one of the country’s major companies is set to unveil a significant metaverse project.
(Bloomberg) — Japan’s Prime Minister Fumio Kishida suggested one of the country’s major companies is set to unveil a significant metaverse project.
“I have heard that a large Japanese company will take this opportunity to announce to the world a big, ambitious project that aims to create a valuable economic system in the metaverse,” Kishida said in opening remarks via video at a web3 conference in Tokyo on Tuesday.
The metaverse is the idea of an immersive online virtual reality. Kishida’s economic agenda includes support for the growth of so-called web3 firms. The term “web3” refers to a vision of a decentralized internet built around blockchains, crypto’s underlying technology.
Japan has moved toward easing some crypto rules, such as on token listing and taxation, but overall is viewed as having strict regulations for the digital-asset sector.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.