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South Korea to invest $ 170 million in Metaverse segment – News

The South Korean government plans to invest $177 million to finance the Metaverse projects. Investment in this segment will also increase employment opportunities. South Korea is one of the earliest countries to invest in growing the metaverse industry. According to an estimate, this segment can reach $800 billion in the next two years.

of Report South Korea’s Science, Information and Communication Technologies Minister Lim Hyesook is quoted as saying that there is a lot of potential in this segment. The government of South Korea wants to help grow the Metaverse ecosystem. The Seoul Metropolitan Government is set to make Seoul the first city in South Korea to enter the metaverse. It is being said that the metaverse will take internet parity to a whole new level. Creators like the gaming industry are expected to play a major role in driving the metaverse forward.

VARA, the recently created authority for virtual assets in Dubai, has started work on its presence in the metaverse. For this, VARA has partnered with the Metaverse-related firm Sandbox. VARA plans to create a virtual headquarters. It will be called MetaHQ. With this VARA aims to move forward in Web3. VARA will be the first crypto regulatory authority to enter the metaverse.

Global automobile companies Nissan and Toyota have also made their debut in the metaverse. of these Japanese companies Plan To attract our customers with a realistic video experience. This will also increase Japan’s dominance in the metaverse. Nissan and Toyota are gearing up to engage their audiences with a variety of virtual events. These companies will also work on starting and expanding their showrooms and customer service offices digitally. Toyota has introduced a virtual workplace in which its team members can be seen in a digital version. The company has assigned this metaverse office to its technical development and human resource teams. Nissan has launched a Virtual Reality (VR) version of its Nissan Crossing gallery in the Metaverse. For this, the platform of US-based startup VRChat is being used.

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