- Arbitrum’s blockchain enhances crypto payments in Lotte’s Caliverse app.
- Lotte integrates AI, VR, and crypto into Caliverse with Arbitrum’s help.
- Arbitrum’s 250ms block times elevate gaming and virtual world experiences.
Arbitrum is deepening its ties by partnering with Lotte Group, a major South Korean conglomerate. The collaboration will bring blockchain technology and crypto payments to Lotte’s Caliverse metaverse platform, which focuses on gaming and virtual experiences.
Arbitrum partners with Lotte’s Caliverse
Arbitrum plans to strengthen its collaboration with Lotte Group, a South Korean conglomerate. Lotte’s metaverse platform, Caliverse, will integrate with the Arbitrum blockchain. This partnership seeks to enable users to pay for services using cryptocurrency.
Caliverse is an AI-driven entertainment experience which offers users virtual worlds, gaming, media content, and shopping. Through this integration with Arbitrum users will be able to use crypto to make payment within the app. Arbitrum, a layer-2 Ethereum scaling solution, has gained popularity as the preferred platform for blockchain gaming.
Offchain Labs, the developer behind Arbitrum and the Arbitrum Foundation have confirmed that no agreement has been finalized. However, Lotte has illustrated its commitment to ensure a successful partnership. The two companies have expressed intentions to integrate blockchain technology into the services of Caliverse.
Offchain Labs co-founder and CEO Steven Goldfeder explained the role of Arbitrum in the partnership. Goldfeder noted that Arbitrum technology would provide Caliverse with a friendly user interface. The integration is anticipated to establish a new standard for the implementation of blockchain in the virtual space.
Impact of Lotte’s Partnership with Arbitrum
The Arbitrum blockchain offers fast transaction processing, making it suitable for gaming and virtual experiences. Arbitrum’s 250ms block times will enhance the high performance in Caliverse virtual worlds. This will improve the user experience in Caliverse especially for gaming and media content.
Arbitrum’s blockchain has gained increased popularity in the gaming sector. In 2024, the network experienced significant growth with a 72% increase in gaming transactions. The blockchain currently hosts 119 gaming titles and 23 gaming-focused blockchains.
The Arbitrum Orbit stack enables developers to design and develop custom-tailored blockchains. This customizable feature has increased the popularity and the rapid growth of the Arbitrum network. Therefore, the integration of Caliverse will further attract more attention to the platform.
Lotte has expressed interest in blockchain and metaverse products since 2022. The company entered into a strategic partnership with Arbitrum last year. This collaboration shows Lotte’s commitment to explore new and innovative technologies like AI, virtual reality and cryptocurrency.
The integration of Lotte’s Caliverse with Arbitrum signals a renewed institutional interest in blockchain-based virtual worlds. This development may trigger an increase in $ARB trading activity. Traders have highlighted that the increased adoption and use of Arbitrum will potentially boost the short term sentiment and price movement of $ARB.