South Korea Plans a $187 Million National Metaverse Effort

The metaverse trend appears to be showing no signs of slowing down as South Korea becomes the first country to express desires to build its own project in the field.

• According to a recent report, the country plans to invest a whopping $187 million in a national metaverse project.
• The pledge of roughly $187 million comes from South Korea’s Ministry of ICT, Science, and Future Planning, and it’s in a bid to create a Metaverse ecosystem that’s intended to support the expansion of digital content and corporate growth.
• Per the official statement, the funds are to be spent on completing various objectives with aims of creating a large digital ecosystem carrying the name Expanded Virtual World.
• The government agency also intends to use its metaverse as a platform to expand industrial virtual growth of education, media, and cities altogether.