Japan PM announces investment plans for metaverse and NFTs

Prime Minister Fumio Kushida on Monday announced the Japanese Government will be introducing investment plans to expand the country’s metaverse, NFTs, and digital transformation projects.

Japan is one of the leading countries in the metaverse industry. In fact, they are the early adopters of Web3 services and have been continuously working on regulating emerging technology.

For the past year, the country has shown many improvements in Web3 as many creators, artists, and firms have joined the bandwagon. International firms have also expanded their projects to Japan.

In Monday's speech, Kishida said that Japan’s economic reforms will include working on digital transformation and expanding the use of Web3 services.

This is good news for startups and creators based in Japan because they will get more opportunities along with government support to explore possibilities within the metaverse.

So far, Kushida hasn’t shared many details on the investment plans but the administration will be actively working on them.

Recently, the government awarded officials of different cities with non-tradeable NFT awards for their performance in initiating digital technology developments to facilitate citizens in daily life.

Additionally, Japan is also working on educating its students and adult learners on the latest digital transformation technology so they can develop skills and find job opportunities within Web3.

NFTStudio24 is also bringing the “Metaverse for All” Campaign to Japan, Vietnam, Pakistan, India, and Africa to help educate over 3 million people around the world about metaverse and Web3.

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