The Ministry of Science and ICT of South Korea has approved investments of $51 million in various metaverse projects, doubling down on its metaverse bet for the future. The investment includes a fund for supporting the growth of metaverse companies and another special investment to build several services including region-specific projects.
South Korea Continues Investing in the Metaverse
While the interest in the metaverse by some private companies has started to cool off, South Korea is doubling down on its bet to keep supporting the local metaverse economy. The country announced a pair of initiatives directed to support metaverse projects and companies to build products on top of virtual worlds.
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The first of these projects, announced on March 8, constitutes a metaverse growth fund that
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