The South Korean science and ICT ministry has said it will recruit companies that will participate in its 2022 Metaverse Content Creation Project. A director in the ministry said the project is being promoted as part of the country’s industry-leading metaverse strategy.
Building Trust in the Metaverse Content Creation Ecosystem
South Korea’s Ministry of Science and ICT in conjunction with the National Information and Communication Industry Promotion Agency (NIPA) has said it will recruit companies that will be participating in the 2022 Metaverse Content Creation Project. Through the project, South Korea intends to support local metaverse content makers as well as the issuance of non-fungible tokens (NFTs).
According to a report in the Korean language publication News 1, the goal of the project is to engender trust in the metaverse content creation ecosystem. Four companies will be selected to participate in the project and each one will receive approximately $160,000 (200 million won).
Meanwhile, Heo Won-Seok, director of software policy at the Ministry of Science and ICT, is quoted in the report explaining why South Korea is embracing the metaverse. The director said:
This project is being promoted as part of the metaverse new industry-leading strategy. We will work hard to lay the groundwork for Korea to leap forward as a leading nation in the metaverse by providing content that can be enjoyed by various age groups and support for creative activities of creators.
According to the report, companies that wish to participate in the project must have their application submitted by July 8. In addition, the report said content creators and content development companies that wish to participate can form consortiums with token-issuing companies.
What are your thoughts on this story? Let us know what you think in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. bitnews.gold does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
A quant has explained how there is a connection between the recent trends in the US stock …