Ten Japanese companies have come together to create a metaverse economic zone five months after Prime Minister Fumio Kishida said Japan would expand investments in Metaverse and non-fungible tokens (NFTs).

Japanese giants like Mitsubishi and Fujitsu are amongst the ones who signed an agreement on Feb. 27 to build an open metaverse infrastructure, according to Forkast News.

The new infrastructure will be named “Ryugukoku” and will support various services, including payments, identity authentication, and insurance.