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 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.

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.

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."