Japanese Mobile Firm NTT Docomo Plans To Invest $4 Billion In Web3 Industry

Tokyo-based Japanese mobile firm NTT Docomo has plans to invest close to 600 billion yen ($4 billion) in the Web3 industry.

Japan's top mobile carrier aims to take a "leading position using its mobile infrastructure" and has confirmed the creation of a new firm in 2023 whose focus will be Web3 development, Nikkei reported. Moreover, NTT Docomo will spend around 500 billion yen to 600 billion yen to develop Web3-related infrastructure and services.

The firm said in its second-quarter earnings report that it will invest the funds over the next couple of years. The four key areas included in NTT Docomo's plans are digital exchange, token issuance, security and a blockchain wallet to store digital assets.

The firm, which serves almost 84 million users, has recently partnered with Astar Foundation, the developer of the public blockchain Astar Network. It also has a collaboration with Accenture, an Irish professional services company based in Dublin.

"Docomo, in collaboration with Accenture, will revolutionize social infrastructure by utilizing blockchain and building a safe and secure Web3 environment," Motoyuki Ii, president and chief executive officer of NTT Docomo, said, according to a news release.

The partnership between NTT Docomo and Accenture's ultimate goal is to "facilitate the adoption of Web3 globally — enabling everyone to enjoy its advantages and benefits — while positioning Japan as a leading Web3 market," as per the news release.

Together with the two entities, NTT Docomo aims to establish a consortium and allow individuals and corporations to utilize crypto coins for governance. They also plan to address the growing demand for Web3 talent and provide training courses for those interested in working in the Web3 industry.

NTT Docomo will also establish a secure technology platform for participants in Web3 and provide them with new ways to utilize the blockchain-based industry and work with its partners to resolve the challenges facing Web3 and blockchain technologies.