Arbitrum Continues Cooperation With Lotte Group
Arbitrum, Ethereum's leading layer-2 network, is strengthening its partnership with South Korea's Lotte Group, a multibillion-dollar conglomerate spanning retail, media, and entertainment.
Offchain Labs, Arbitrum's developer, and the Arbitrum Foundation confirm that a financial deal is in progress to establish Arbitrum as the primary blockchain provider for Caliverse, Lotte's metaverse gaming platform.
This collaboration signals a potential revival of corporate interest in blockchain-based virtual worlds—once a hot trend but now less prominent among tech and investment circles.
Lotte Group & Arbitrum: A Powerful Duo! 🇰🇷🤝🚀
Lotte Group is bringing its Caliverse metaverse to life with Arbitrum's high-speed blockchain.
Expect seamless in-game crypto payments & a truly immersive Web3 experience.
This partnership signals a major move for traditional… pic.twitter.com/CweePfsSfx
— CryptoniteUae (@CryptoniteUae) January 8, 2025
Lotte first explored metaverse ventures in 2022 and formalised a strategic partnership with Arbitrum last year.
Lotte's Caliverse
Caliverse serves as Lotte Group's testing ground for cutting-edge technologies like AI, virtual reality, and cryptocurrency.
The platform offers users immersive experiences across virtual worlds, where they can explore diverse media content and futuristic shopping opportunities.
Current offerings include branded experiences from major names, such as 7-Eleven and the Tomorrowland music festival, allowing users to shop, enjoy concerts, play games, and engage with various types of media.
Some big news from Arbitrum.
The Lotte Group, a big five conglomerate in South Korea, has picked the Arbitrum blockchain for its Lotte Caliverse.
"The Lotte Caliverse will be an AI-driven 3D entertainment experience on the blockchain.
Arbitrum has been a popular choice as a… pic.twitter.com/yDxfAhBa9p
— Jay (@JLettucewrist) January 8, 2025
With the planned integration of Arbitrum, these services will soon be accessible through cryptocurrency payments, further enhancing Caliverse's Web3 capabilities.
Arbitrum is Caliverse's Ideal Home
Arbitrum has emerged as a leading blockchain for gaming platforms, boasting a remarkable 72% year-over-year growth in 2024, as reported by Offchain Labs.
The network now supports 119 game titles and 23 gaming-focused blockchains through its Arbitrum Orbit stack—a customisable toolkit that empowers developers to build their own blockchains leveraging Arbitrum's robust technology.
📜 Hot off the Press: @G7_DAO released the 2024 State of Web3 Gaming report in collaboration with @naavik_co!
Arbitrum takes the spotlight with 72% YoY growth, hosting 119 game titles and is the most widely adopted network for new gaming chains, at 23 over the past 12 months.🧵 pic.twitter.com/PsvS0CbSc5
— Arbitrum (💙,🧡) (@arbitrum) November 14, 2024
This growing ecosystem underscores Arbitrum's increasing influence in the gaming industry, highlighting its role in shaping the future of blockchain-based gaming experiences.
Steven Goldfeder, the co-founder and CEO of Offchain Labs, expressed:
"Arbitrum's blockchain is the ideal home ground for Caliverse thanks to industry-leading 250ms block times that can enable seamless virtual world and gaming use cases. The Arbitrum technology stack will provide users of Caliverse a seamless and consumer-friendly experience, setting a new standard for Arbitrum-based interactions in virtual worlds."
