Arbitrum, the largest layer-2 network on Ethereum, is tightening its partnership with Lotte Group, one of the five 'chaebols' of South Korea.

According to information from Offchain Labs, the developer of Arbitrum, and the Arbitrum Foundation, the non-profit organization managing the project, a financial agreement is being negotiated to make Arbitrum the official blockchain infrastructure for 'Caliverse,' Lotte's gaming metaverse platform.

A representative from the Arbitrum Foundation initially stated that Lotte had received the largest ARB funding ever. However, this statement was later corrected, citing that the agreement had not yet been formalized.

The return of traditional companies to the metaverse

If the agreement between Lotte and Arbitrum is realized, it could mark an increase in interest from traditional businesses in developing blockchain-based virtual worlds. The metaverse idea attracted significant attention a few years ago but has somewhat cooled recently.

Lotte began testing metaverse-related products in 2022 and announced a strategic partnership with Arbitrum last year.

Caliverse is a space where the South Korean conglomerate tests advanced technology trends, such as artificial intelligence (AI), virtual reality (VR), and cryptocurrencies. Users on Caliverse can explore virtual worlds, experience futuristic shopping, attend concerts, play games, and interact with various content from major brands like 7-Eleven and the Tomorrowland music festival.

The plan to integrate Arbitrum into Caliverse will allow users to pay for services on the platform using cryptocurrencies, ushering in a new era in virtual world experiences.

Arbitrum: The top choice for the blockchain gaming industry

Arbitrum has established itself as the leading platform for blockchain game applications, with a growth of 72% in 2024, according to data from Offchain Labs. Currently, Arbitrum's ecosystem supports 119 game titles and 23 specialized blockchains through Arbitrum Orbit, a powerful toolkit that allows developers to build custom blockchains based on Arbitrum technology.

'Arbitrum's blockchain is the ideal foundation for Caliverse due to its block processing time of only 250ms, providing a smooth and seamless experience for virtual world applications and games,' said Steven Goldfeder, CEO of Offchain Labs. 'Arbitrum's technology will set a new standard for blockchain-based interactions, giving Caliverse users a modern, friendly, and superior experience.'

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