-1.83% Bitcoin (BTC) 95667.8 EUR
-3.43% Ethereum (ETH) 3427.87 EUR
-3.22% Litecoin (LTC) 81.52 EUR
-1.98% B-Cash (BCH) 457.53 EUR
-1.61% Ethereum (ETH) 0.0362186 BTC
-1.15% Litecoin (LTC) 0.00086355 BTC
+0.04% B-Cash (BCH) 0.00478134 BTC
-1.49% Bitcoin (BTC) 112405.6371 USDC
-0.31% USD Coin (USDC) 0.85 EUR
-4.80% Chainlink (LINK) 15.73 EUR
-3.15% Chainlink (LINK) 0.00016479 BTC
-2.95% Dogecoin (DOGE) 0.17 EUR
-1.09% Dogecoin (DOGE) 0.0000018 BTC
-3.19% Uniswap (UNI) 5.73 EUR
-1.66% Uniswap (UNI) 0.00005979 BTC
-4.26% Cardano (ADA) 0.58 EUR
-2.38% Cardano (ADA) 0.00000611 BTC
-0.09% Tron (TRX) 0.27 EUR
+1.76% Tron (TRX) 0.00000288 BTC
-2.57% Shiba Inu (SHIB) 0.00000907 EUR
+2.91% Zcash (ZEC) 215.41 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-3.35% Arbitrum (ARB) 0.3316 USDC
-4.47% Chainlink (LINK) 18.13 USD
-4.30% Chainlink (LINK) 18.16009 USDC
-3.17% Uniswap (UNI) 6.567 USDC
-4.25% Ondo (ONDO) 0.66 EUR
-3.93% Ondo (ONDO) 0.7681 USDC
-3.45% Gala (GALA) 0.01 EUR
-2.89% Gala (GALA) 0.01167 USDC
-3.03% Wormhole Token (W) 0.07 EUR
-2.84% Wormhole Token (W) 0.082 USDC
-4.45% Chiliz (CHZ) 0.02 EUR
-3.65% Chiliz (CHZ) 0.03451 USDC
-3.81% Sand (SAND) 0.18 EUR
-3.59% Sand (SAND) 0.2173 USDC
-4.90% Aave (AAVE) 208.01 EUR
-4.56% Aave (AAVE) 242.16 USDC
-6.26% Curve DAO (CRV) 0.48 EUR
-5.92% Curve DAO (CRV) 0.564 USDC
-7.83% Immutable X (IMX) 0.45 EUR
-6.88% Immutable X (IMX) 0.5372 USDC
0.00% Skale (SKL) 0.07 USDC
-2.54% Beam (BEAM) 0 EUR
-2.50% Beam (BEAM) 0.00622 USDC
0.00% Axelar (AXL) 1.05 USDC
-1.90% Livepeer Token (LPT) 4.52 EUR
-1.68% Livepeer Token (LPT) 5.261 USDC
-2.83% Compound (COMP) 30.42 EUR
-2.77% Compound (COMP) 35.35 USDC
+0.59% Coti (COTI) 0.03 EUR
-2.55% Coti (COTI) 0.0382 USDC
0.00% Portal (PORTAL) 1.1 USDC
-4.33% Sushi (SUSHI) 0.47 EUR
-3.11% Sushi (SUSHI) 0.5572 USDC
-2.81% Pepe (PEPE) 0 EUR
-2.69% Pepe (PEPE) 0.00000721 USDC
-3.93% Optimism (OP) 0.39 EUR
0.00% Polygon (MATIC) 0.2 EUR
-3.61% Solana (SOL) 168.5 EUR
-2.28% Solana (SOL) 0.001764 BTC
+0.24% Solana (SOL) 0.049244 ETH
-0.46% USD Coin (USDC) 0.74 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY
0.00% USD Coin (USDC) 4.25 PLN
0.00% USD Coin (USDC) 10.93 SEK

South Korea to invest $187M in national Metaverse project

02-28-2022

South Korea’s Ministry of ICT, Science, and Future Planning pledged 223.7 billion KRW ($186.7 million) to create a broad Metaverse ecosystem to support the growth of digital content and corporate growth within the country.

 

The Ministry wrote in an official statement on Feb. 27 that funds will be spent on completing four main objectives in creating what appears to be an all-encompassing Metaverse ecosystem titled the Expanded Virtual World.

 

The government agency intends on using its Metaverse as a platform for expanding the virtual industrial growth of cities, education, and media.

 

Content creators will enjoy support on multiple fronts to attract the right talent to help build the platform. The Ministry said that it will host community-oriented creative activities, a Metaverse developer contest, and a hackathon.

 

CEO of Hashed Simon Kim pointed out that the new Metaverse platform has a particular focus on boosting commercial expansion by providing financial support for participants. He told Cointelegraph today that he doesn’t think there is a problem with the government providing funding because “the private sector is actively investing in the metaverse market.” He continued:

 

“It is the regulatory issue that the government should pay more attention to. In Korea, publishing of NFT games is prohibited, and token issuance is also prohibited.”

Hashed is a South Korean crypto ecosystem venture capital and incubator. It has invested in Metaverse projects such as Decentraland and The Sandbox.

 

Head of Communication and Policy Department at the Ministry Park Yungyu stated in the announcement that this initiative to build a Metaverse platform is part of the broader ‘Digital New Deal’ in South Korea. The Digital New Deal is a set of policies designed to foster the growth of digital technologies according to Park who added:

 

“It is important to create a world-class Metaverse ecosystem as the starting point to intensively foster a new hyper-connected industry.”

The Ministry also expects its Metaverse to have a global reach since there will be seamless access to South Korean companies over time. It plans on providing support for corporate growth by offering financial support and technological development.

 

Seoul’s municipal government has also been exploring its options regarding a public Metaverse space since last year. Last November, tentative plans for a “Metaverse 120 Center” were announced.

 

Source: Cointelegraph