Lizzzka on Nostr: South Korean authorities launched a tender to create a metaverse The Ministry of ...
South Korean authorities launched a tender to create a metaverse
The Ministry of Science and South Korea's NIPA have offered financial support to companies creating content for the metaverse, amid government subsidies to the industry. The Ministry of Science and ICT of South Korea, together with the National Information and Communications Industry Promotion Agency (NIPA), said they are going to hire companies that will participate in the metaverse content creation project. As part of this initiative, South Korea intends to support local content producers, as well as the issuance of non-fungible tokens (NFTs). Four companies will be selected to participate in the project, each receiving 200 million won (about $160,000). Ministry of Science and ICT Software Policy Director Heo Won-Seok said the project is being promoted as part of a new leading development strategy for the metaverse industry in the country. The press release states that companies wishing to participate in the project must apply by July 8. At the same time, developers can create consortiums with companies that issue tokens. South Korea, through its policy, demonstrates a strong desire to take a leading position in the market of the metaverse. At the beginning of the month, the South Korean authorities announced that they were going to spend $117.1 million to invest in the metaverse. This is the first time that a state has officially allocated money for the development of virtual reality. On the other hand, after the collapse of the Terra project, the South Korean government is tightening the regulation of cryptocurrencies. In particular, by the end of June, the authorities intend to create a Digital Assets Committee responsible for protecting cryptocurrency investors. In addition, the South Korean authorities announced that they intend to involve law enforcement agencies in overseeing the cryptocurrency industry.
The Ministry of Science and South Korea's NIPA have offered financial support to companies creating content for the metaverse, amid government subsidies to the industry. The Ministry of Science and ICT of South Korea, together with the National Information and Communications Industry Promotion Agency (NIPA), said they are going to hire companies that will participate in the metaverse content creation project. As part of this initiative, South Korea intends to support local content producers, as well as the issuance of non-fungible tokens (NFTs). Four companies will be selected to participate in the project, each receiving 200 million won (about $160,000). Ministry of Science and ICT Software Policy Director Heo Won-Seok said the project is being promoted as part of a new leading development strategy for the metaverse industry in the country. The press release states that companies wishing to participate in the project must apply by July 8. At the same time, developers can create consortiums with companies that issue tokens. South Korea, through its policy, demonstrates a strong desire to take a leading position in the market of the metaverse. At the beginning of the month, the South Korean authorities announced that they were going to spend $117.1 million to invest in the metaverse. This is the first time that a state has officially allocated money for the development of virtual reality. On the other hand, after the collapse of the Terra project, the South Korean government is tightening the regulation of cryptocurrencies. In particular, by the end of June, the authorities intend to create a Digital Assets Committee responsible for protecting cryptocurrency investors. In addition, the South Korean authorities announced that they intend to involve law enforcement agencies in overseeing the cryptocurrency industry.