Local Japanese government bodies are planning to launch metaverse projects, which may include the use of NFTs and avatars in a new virtual space.
The ball is starting to roll in Yabu, a city in Japan’s Hyogo Prefecture, where local officials have joined forces with Yoshimoto Kogyo, one of the country’s largest and most powerful entertainment industry players. A new virtual space for the city called “Virtual Yabu City” will open by the end of June this year.
The space could evolve along the same lines as metaverse projects in other East Asian cities, such as Seoul, which launched its own metaverse project late last year. However, Yabu’s project may differ slightly in that it will most likely be used to promote the city to potential tourists.
Another metaverse entertainment city project is the emerging esports platform GGTOOR Inc that has announced the purchase of a parcel of land in the metaverse which will be used to develop GGTOORCITY. GGTOOR Inc will start selling off individual parcels of its newly acquired land from the 14th of June with GGTOORCITY envisioned to become a hub for businesses in the sports, music, gaming, movies, theater, dance, amusement parks, retail and concessions sectors, “all making up a virtual city where millions of daily visitors will work and play”.
“Since a few years back the metaverse has grown to become a driving force in crypto and the tech world at large, especially with the increasing acceptance and adoption of cryptocurrency, its wallets and much more,” GGTOUR says.
The metaverse could be explained as a hybrid of the physical and digital worlds, which combines the best of both. Even so, it doesn’t change the fact that much of the general populace is still in the dark about what the metaverse is and what it means. Soon people will embrace this new technology where they can build the life they always wanted virtually.