The South Korean Ministry of Science and ICT put some serious weight behind the metaverse this week, allocating $186.7 million to create a virtual ecosystem to foster digital content and corporate growth within the country. 😳
The metaverse ecosystem is called the “Expanded Virtual World,” and the funding will be used to expand the virtual industrial growth of cities, education and media. The ministry also said that it will host community-oriented creative activities to drive interest, such as a metaverse developer contest and a hackathon.
“It is important to create a world-class metaverse ecosystem as the starting point to intensively foster a new hyper-connected industry,” stated Park Yungyu, head of communication and policy at the ministry in the announcement. ⛪️
