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.
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:
- Address the ESG (environmental, social, and governance) issues;
- Establish a secure technology platform for Web3 and resolve challenges revolving around it;
- 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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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].
