South Korean government becomes an early investor in the Metaverse
South Korea’s rising interest in nascent tech could prompt other nations to take the idea of the 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 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 South Korea's Ministry of Science and Information and Communication Technology led by Lim Hyesook, who called the metaverse “an uncharted digital continent with indefinite potential,” indicating the government’s interest in taking the lead in the Metaverse tech.
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