Ethereum Layer-2 network Arbitrum has collaborated with South Korea’s Lotte Group to expand its metaverse ambitions.

In its biggest-ever developer grant, the Arbitrum Foundation has chosen Lotte to drive blockchain development for Caliverse, Lotte’s metaverse gaming platform.

Lotte Group Secures Funding from Arbitrum

The Lotte Caliverse will be an AI-driven 3D entertainment experience on the blockchain. This announcement came during CES 2025 in Las Vegas, Nevada, where Offchain Labs, the developers behind Arbitrum, confirmed the grant without disclosing its exact value.

Of note is that the grant was issued in Arbitrum’s native token, ARB. This is standard practice for the Arbitrum Foundation, which seeks to foster growth across its ecosystem.

“Lotte is Arbitrum Foundation’s largest grant recipient to date. We’re proud to collaborate with partners closely aligned with our vision,” said John Park, Head of Korea at the Arbitrum Foundation.

Lotte’s initial foray into the metaverse began in 2022, and the first announcement of its partnership with Arbitrum came last year. The decision to integrate Arbitrum’s blockchain into Caliverse marks a significant step in bridging traditional businesses with emerging blockchain technologies.

Caliverse serves as a playground for novel tech trends, including artificial intelligence, virtual reality, and cryptocurrency. Users of the platform can explore immersive virtual worlds, participate in futuristic shopping experiences, and interact with branded content from global giants such as 7-Eleven and Tomorrowland.

With Arbitrum’s integration, Caliverse users will soon be able to make crypto payments for services. On the other hand, in-game transactions will lever

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Author: Lockridge Okoth