“Expecting cooperation with the Japanese government”
Daniel Alegre, CEO of Yuga Labs, and Kazunatsu Itagaki, Deputy Director of the Ministry of Economy, Trade and Industry’s Web3.0 Policy Promotion Office, held a dialogue on the 25th at Asia’s largest global Web3 conference, which is planned and operated by CoinPost Co., Ltd., about the possibility of Japanese IP overseas expansion with Web3 and the challenges of Web3 popularization.
In a dialogue, Mr. Alegre said, “I think the Japanese government’s approach to supporting commercial creation and entrepreneurship is heading in the right direction,” and highly appreciated the Web3 strategy being promoted by the Japanese government.
He also said, “Until now, it has been a challenge for innovators and creators in Japan to export IP (intellectual property rights) originating in Japan overseas.
On the other hand, Mr. Itagaki expressed his concern that in order to promote regulations that are favorable to Web3, it is still necessary to encourage government officials to understand emerging technologies such as Web3 and NFT. However, Mr. Alegre showed that the role of public-private cooperation was extremely important, using the Internet’s process from the dawn to its popularization as an example, and said that he was looking forward to a partnership with the Japanese government. The details of the partnership have not been disclosed.
In June 2010, the Japanese government made a cabinet decision to incorporate the development of the environment for Web3 into its growth strategy, and declared its policy to proceed with consideration of the development of the environment to promote the use of NFTs and DAOs (Distributed Autonomous Organizations).
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In addition, in June this year, the National Tax Agency issued a legal interpretation notice stating that virtual currencies issued by companies will not be subject to market valuation if they meet certain conditions, putting the focus on improving the environment for fostering domestic startups.
Although there are various issues such as the tax system revision of crypto assets (virtual currency), it is said that it has made great progress toward improving the environment for emerging industries, which have been pointed out as being heavily taxed.
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Alegre was appointed CEO of Yugalabo in April 2023.
Regarding his previous job, since April 2020, as President and COO of Activision Blizzard, a major US game company, he oversaw the release of popular games such as “Call of Duty”, “World of Warcraft”, “Diablo”, “Overwatch”, and “Candy Crush”. Prior to Activision Blizzard, he was Google’s global retail payments executive.
Yugarabo is a Web3 company that aims to shape the future through stories, experiences and communities. In addition to NFT production such as BAYC, he is currently working on a metaverse game called “Otherside”.
On the other hand, in July 2022, the “Ministry of Economy, Trade and Industry”, which is responsible for comprehensive economic policies including industrial promotion, job creation, and support for regional economies, established the “Web 3.0 Policy Promotion Office” in the Minister’s Secretariat. In cooperation with related ministries and agencies such as the Digital Agency, we have established a system to consider business environment issues related to Web 3.0 based on blockchain.
According to the Ministry of Economy, Trade and Industry’s website, the Web 3.0 Policy Promotion Office mainly collects information from business operators, investors, legal professionals, engineers, etc. regarding overseas business environment and domestic business environment issues, and cooperates with relevant ministries and agencies to improve the business environment related to Web 3.0.
Mr. Itagaki, assistant manager, joined the Ministry of Economy, Trade and Industry in 2017 after working in healthcare industry policy, social innovation-related policy, Singapore VC, etc.