Japan’s top mobile carrier NTT Docomo to invest $4 billion into Web3

In Brief

Japan’s largest mobile telecoms operator NTT DOCOMO is partnering with Accenture for a $4 billion Web3 initiative.

The financial investment will be completed in five to six years.

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Japanese mobile operator NTT Docomo plans to invest $4 billion (600 billion yen) in Web3 development. NTT Docomo partnered with Accenture, a blockchain solutions and consulting company, and Astar Foundation, the creator of the public blockchain Astar Network.

Japan’s leading mobile carrier will use the funds to create a company that will build blockchain-focused solutions. The new company is expected to be launched in 2023. Earlier this year, NTT Docomo launched a $412 million metaverse unit.

The official press release stated that blockchain technology “has the potential to form a new digital economy with a greater social impact than conventional economies, providing clearly defined benefits and secure environments for success.”

NTT Docomo and Accenture plan to establish DAOs and a consortium that enables individuals and corporations to use blockchain tokens for governance. The companies have three additional missions regarding the new initiative:

  1. Address the ESG (environmental, social, and governance) issues;
  2. Establish a secure technology platform for Web3 and resolve challenges revolving around it;
  3. Develop talent by providing training courses for those interested in working in Web3.

“We will build an environment where the power of creators and developers can come together. We are glad to be promoting the Japan-developed Web3, and we welcome individuals and companies to join us in the global development of Web3 services,”

said Motoyuki Ii, the president and CEO of NTT Docomo.

The Japanese government owns one-third of NTT’s stock. Last week, the country’s digital ministry introduced plans to create a DAO to explore Web3 technology. While last month, Prime Minister Fumio Kishida announced investments in Web3.

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Agne Cimermanaite

Agne is a journalist and writer with a background in literature, culture, and arts. She entered the Web3 space in 2021 and began writing about cryptocurrency and NFTs. Agne is passionate about technology and storytelling and is always on the lookout for exciting stories.

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