Arbitrum, the largest Layer 2 network besides Ethereum, has awarded its largest developer grant to Lotte Group, the multibillion-dollar South Korean conglomerate known for its extensive portfolio of shopping malls, media companies and entertainment properties. According to Offchain Labs, the developer behind Arbitrum, the grant cements Arbitrum as the primary blockchain infrastructure provider for Caliverse, Lotte’s metaverse gaming platform.
Offchain Labs shared the news at CES 2025, the technology trade show taking place this week in Las Vegas, Nevada. A company representative declined to disclose the exact amount of the subsidy “at this stage.” It was technically awarded by the Arbitrum Foundation, a non-profit organization, which periodically awards grants in $ARB tokens to help spur development in the Arbitrum ecosystem.
“Lotte is the largest recipient of Arbitrum Foundation grants to date. And we are proud to work with partners so closely aligned with our vision,” said John Park, Korea Director of the Arbitrum Foundation.
Lotte’s integration with Arbitrum could signal a renewed interest by traditional companies in building blockchain-based virtual worlds – the “metaverse” concept that generated a stir a few years ago but has since become less important to many technologists and investors. Lotte first showed interest in launching metaverse-related products in 2022 and announced it would enter a “strategic partnership” with Arbitrum last year.
Caliverse is primarily a place where the South Korean mega-company experiments with emerging technology trends such as artificial intelligence, virtual reality and cryptocurrencies. Caliverse users can explore virtual worlds that feature different types of multimedia content and futuristic shopping experiences. The app currently features content from a variety of big brands, from 7-Eleven to the Tomorrowland music festival. Much of Caliverse’s content comes from fashion and beauty companies such as Givenchy, MCM and L’Occitane.
Currently, users can shop those brands or experience concerts and other types of media within the Caliverse app. The new integration with Arbitrum means that blockchain users will be able to pay for certain services using cryptocurrency, and systems such as in-game transactions could begin to run on the chain.
The Arbitrum blockchain has become a popular choice among gaming platforms, with the network seeing 72% year-over-year growth in 2024 for gaming, according to Offchain Labs. According to a press release the company shared with CoinDesk, Arbitrum currently hosts 119 game titles and 23 game-focused blockchains through its Arbitrum Orbit stack, a customizable toolset that allows developers to create their own blockchains based on the technology of Arbitrum.
“The Arbitrum blockchain is the ideal home ground for Lotte Caliverse, offering industry-leading 250ms block times that ensure high-quality performance within virtual worlds and gaming experiences,” said Steven Goldfeder, co-founder and CEO of Offchain Labs. “With Arbitrum now powering Lotte Caliverse, in-game transactions will be seamlessly integrated into the chain and eliminate transaction latency, providing users with a seamless, consumer-friendly experience that sets a new standard for Arbitrum-based interactions in virtual worlds.”
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