Nikkei Asia stated that NTT Docomo, the largest mobile operator in Japan, had put aside between 500 billion yen and 600 billion yen (between US $3.4 billion and US $4 billion) to invest in Web3 technology.
According to a source who spoke to Nikkei Asia, it would utilize the cash to establish a business that will provide blockchain-based solutions. In 2023, it will start running.
This is not NTT Docomo’s first effort to promote Web 3. The business stated earlier this year that a section devoted to the metaverse had been established. A 200-person workforce was last reported for Qonoq.
Qonoq has a $412 million budget and its primary goals include the development of metaverse experiences through XR World and the Matrix Stream virtual concert channel. It is also creating gear to make its metaverse experiences more realistic, allowing companies to build up “digital twins” in this virtual reality, and allowing enterprises to do so.
