Bitcoin

South Korea has been making significant investments in the metaverse, seeing it as a potential new economic growth engine. The country’s Ministry of Science and ICT recently announced a major investment in a fund dedicated to driving metaverse initiatives, with the goal of supporting the mergers and acquisitions of various firms in the metaverse ecosystem and helping domestic metaverse-related companies compete with global players.The South Korean government has invested 24 billion Korean won ($18.1 million) to create a fund of more than 40 billion Korean won ($30.2 million) for metaverse development. The fund, called the Metaverse Fund, aims to help local players raise capital and compete with major tech companies, which have shown increasing interest in the metaverse.The government recognizes that it can be difficult for local players to raise capital through private investments due to the underlying investment risks. As a result, the Metaverse Fund will provide a new avenue for investment and support to local companies looking to expand their metaverse-related offerings.In addition to investing in the Metaverse Fund, South Korea also plans to actively support local metaverse-related companies. The country aims to help these firms compete with global players and plans to assist in their growth and development.However, while South Korea is investing heavily in the metaverse, the country is still cautious about potential cross-border threats. In February, the country announced independent sanctions related to cryptocurrency thefts and cyberattacks against specific North Korean groups and individuals. This move demonstrates South Korea’s commitment to maintaining checks and balances on potential threats in the physical world.Overall, South Korea’s investments in the metaverse reflect the country’s commitment to exploring new opportunities for economic growth. By supporting local companies and investing in the development of the metaverse ecosystem, South Korea is positioning itself to be a leader in this emerging field.Credit: <a href="https://blockchain.news/news/south-korea-invests-in-metaverse-fund-for-economic-growth" rel="noopener noreferrer nofollow">Source link</a>

South Korea Invests In Metaverse Fund For Economic Growth

AsiaTokenFund

14 मार्च 2023 को प्रकाशित अन्य लेख

Biden Vows to Hold Those Responsible for SVB, Signature Collapse

𝗪𝗘𝗘𝗞𝗟𝗬 𝗡𝗘𝗪𝗦𝗟𝗘𝗧𝗧𝗘𝗥 l 𝟭𝟬𝟬

Crypto Market Signals Bullish with Recent USDC, SHIB & ETH Rally

Deaton Prepares to Fight for SEC vs. Ripple Case’s Clarity From Courts

Move: A profitable run & step counter

One River CEO confirms the start of the crypto bull run

रोजाना क्रिप्टो अपडेट पाने के लिए हमारे मुफ्त न्यूजलेटर से जुड़ें!