Calibus, a subsidiary of Lotte Innovate, participated as a joint booth at "Rakuten Optimism 2024" (Rakuten Group's largest experiential event, held at Tokyo Big Sight from the 1st) and signed an MOU with Rakuten Wallet, a Rakuten Group affiliate, for Web3 and metaverse business expansion, the company announced on the 2nd. Rakuten Wallet, which has been actively cooperating with Calibus since March of this year, determined that Calibus's virtual space shopping, K-POP and EDM entertainment, and various UGC (User Generated Contents) technologies are attractive for its Web3 business ambitions — expecting significant synergy in the Web3 area it is eyeing as a next-generation new business. Rakuten Wallet has been preparing for Web3 business entry since 2023 and plans to launch a new wallet enabling easy Web3 access this year. Separately, Calibus participated at "Tomorrowland," the world's largest EDM festival held in Belgium from the 19th to 28th of last month, operating a special partner booth.