Tech

South Korea Set to Make Whopping $187 Million Metaverse Investment

South Korea Set to Make Whopping $187 Million Metaverse Investment

  • South Korea’s Ministry of ICT and Future Planning has pledged a 223.7 billion KRW ($186.7 million) investment in the metaverse
  • The Country plans to create a broad metaverse ecosystem that will aid the growth of digital content and the corporate industry
  • The government agency will use the platform to expand the virtual industrial growth of education, cities, as well as support content creators in the country.

As the metaverse industry continues to go mainstream, more companies and organization are throwing their support behind the use of the virtual world initiative.

South Korea

Asian country South Korea is the latest to announce a metaverse project, as the country’s Ministry of Science and ICT announced on Sunday that it is making a 223.7 billion KRW ($186.7 million) investment in the metaverse.

The country has disclosed that this war chest will be used to develop an economy for decentralized creators, support content creators, and firms developing metaverse gadgets.

Axie Infinity

Content creators will enjoy support on multiple fronts to ensure that the right talent is attracted that can develop the platform. To ensure that this happens, the Ministry will host community-oriented creative activities and metaverse hackathons.

Read also: Metaverse App Slammed for Allowing Children in Strip Club

The government council also divulged that it has plans to tackle more issues in the virtual space, including theft of personal information and intellectual property.

The country’s huge investment in the metaverse comes after the science ministry revealed a 5-year strategy that will help South Korea become a top-five global metaverse leader.

Follow Naija.fm on our social media handles FacebookInstagram, and Twitter to keep up with trending news, breaking news, entertainment news.

Show More

Related Articles

Back to top button