(JMA) Japan Metaverse Association is a new name on the block after four virtual currency firms in the country came together to promote the booming technology.
JMA aims to enable the country to enjoy a first-mover advantage in the metaverse by increasing information sharing within and outside the country. The association also wants to improve user protection in the metaverse space.
The founding members of the association include FXcoin, a virtual currency trading exchange, crypto wallet provider Ginco, digital asset manager Coinbest, and crypto solutions firm Intelligence Unit.
FXcoin CEO Tomoo Onishi cites a lack of awareness about blockchain and non-fungible tokens, as well as unavailability of information in the local language as key in the association founding.
The formation of the association comes when metaverse is gaining traction in Japan, with Tokyo-based virtual reality firm HIKKY raising $57 million last month to boost its fortunes in the space.
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