Arbitrum Grants Largest Developer Grant to Lotte for Metaverse Gaming
Arbitrum has granted its largest developer funding to South Korea's Lotte Group, focusing on enhancing metaverse gaming via blockchain technology. This partnership targets Caliverse, Lotte’s AI-driven metaverse platform, which will incorporate Arbitrum’s Layer-2 solutions for efficient crypto payments and improved virtual experiences.
The collaboration was announced at CES 2025 in Las Vegas. The exact grant amount remains undisclosed but is issued in Arbitrum's native token, ARB. John Park from Arbitrum Foundation noted that Lotte is the largest grant recipient to date, building on Lotte's previous metaverse efforts initiated in 2022.
- Caliverse will enable smoother transactions and immersive experiences, allowing users to make crypto payments.
- The platform offers an AI-enhanced 3D environment where users can explore virtual worlds and engage with brands like 7-Eleven and Tomorrowland.
- Arbitrum ensures low-latency transactions with block times of 250ms, enhancing in-game interactions.
Offchain Labs CEO Steven Goldfeder confirmed that in-game activities are directly integrated on-chain, reducing delays and improving reliability. The integration of blockchain, AI, and VR aims to revitalize corporate interest in the metaverse sector.
Arbitrum's gaming sector presence has grown by 72% year-over-year in 2024, now supporting 119 gaming titles and 23 blockchain projects through the Arbitrum Orbit stack. This technology allows developers to create custom blockchains tailored for gaming.
The Lotte-Arbitrum partnership merges entertainment expertise with blockchain efficiency, marking a significant step in blockchain adoption for metaverse platforms. It aims to foster innovation and engaging digital experiences, reshaping future virtual interactions.