South Korea to Invest $177 Million Directly in Metaverse Platforms
The government of South Korea has announced it will start investing in metaverse projects directly. More than $177 million dollars will be invested to kickstart national jobs and companies in this field, according to statements made by Lim Hyesook, minister of science and information and communication technologies. South Korea is one of the first countries to put funds into this field. South Korea Gets Into the Metaverse While more VC firms and companies are actively investing in the future of the metaverse, some nations are also preparing to invest in this new area to secure....
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South Korea’s rising interest in nascent tech could prompt other nations to take up the idea of metaverse more seriously. South Korea, a nation known for its strict crypto regulatory stance, is betting big on the metaverse. The government will invest over 223.7 billion won ($177.1 million) directly in various metaverse projects.The decision to invest in the nascent metaverse tech makes South Korea one of the first national governments to do so. The investment came under the ‘Digital New Deal’ program set up to invest in emerging technologies.The program is headed by the country’s science....
South Korea will allocate roughly $177 million into the metaverse to fund companies and jobs in this space. The metaverse, or living in a virtual world, isn’t a new concept, but it’s only now that the hype around it is gaining rapid attention from many industries. With AI and AR at work, investing in the […]
Although it remains to see what shape the nascent Metaverse will take, the government of South Korea has become an early investor in it. The move can trigger other states to invest in the technology that may appear at a center stage in the future. The investment comes under the state’s newly launched program, Digital […]
From having their own Metaverse store coined as Samsung 837X in January 2022, Samsung now throws in $25 million in DoubleMe, a metaverse startup based in South Korea. Some of the big companies in South Korea with the likes of Coentry Investment and NH Investment have also shown massive support for DoubleMe in terms of […]
Metaverse and web 3 developments are attracting South Korea’s attention as the sectors continue to develop. As of now, the government invested around $200 million in the sectors. On the other side, state authorities have struggled to design effective regulatory frameworks like other jurisdictions around the globe introducing new cryptocurrency rules. In a meeting of […]