Lotte’s Caliverse, an AI-driven entertainment experience, is coming to the layer-2 network, allowing web3 users to pay for services with crypto.
Updated Jan 7, 2025, 8: 02 p.m. UTCPublished Jan 7, 2025, 8: 00 p.m. UTC
Arbitrum, the largest layer-2 network on top of Ethereum, has awarded its biggest-ever developer grant to Lotte Group, the multibillion-dollar South Korean conglomerate known for its vast portfolio of shopping malls, media companies and entertainment properties. According to Offchain Labs, the developer behind Arbitrum, the grant cements Arbitrum as the main blockchain infrastructure provider for Caliverse, Lotte’s metaverse gaming platform.
Offchain Labs shared the news at CES 2025, the technology tradeshow happening this week in Las Vegas, Nevada. A representative for the company declined to disclose the exact size of the grant “at this stage.” It was technically awarded by the non-profit Arbitrum Foundation, which periodically doles out grants in $ARB tokens to help spur development in the Arbitrum ecosystem.
“Lotte is Arbitrum Foundation’s largest grant recipient to date. And we’re proud to be working with partners so closely aligned with our vision,” said John Park, Head of Korea at The Arbitrum Foundation.
Lotte’s Arbitrum integration could signal renewed interest from traditional companies in building blockchain-based virtual worlds—the “metaverse” concept that earned mainstream buzz a few years ago but has since become less top-of-mind for many technologists and investors. Lotte first showed interest in releasing metaverse-related products in 2022 and announced that it was entering a “strategic partnership” with Arbitrum last year.
Caliverse is mainly a venue where the South Korean megacompany experiments with emerging tech trends like artificial intelligence, virtual reality and crypto. Caliverse users can explore virtual worlds featuring differing kinds of media content and futuristic shopping experiences. The app currently features content from a grab-bag of big brands, ranging from 7-Eleven to the Tomorrowland music festival. Much of the content o