South Korea to Recruit Companies for Metaverse Content Creation Project: Report
The South Korean Science and ICT Ministry have said it will recruit companies that will
participate in the 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.
South Korea’s Ministry of Science and ICT in collaboration with the National Information and Communication Industry Promotion Agency
(NIPA), has said it will recruit companies to participate in the
2022 Metaverse Content Creation Project. South Korea intends to use the project
for supporting local metaverse content makers as well as in the issuance of
non-fungible tokens (NFTs).
Local media reports in the
Korean language publication News 1, explain the goal of the project is to build 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).
Heo Won-Seok, Director of Software Policy at the Ministry of
Science and ICT, is quoted in the report explaining why South Korea is keen to
adopt 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.”
The report invites companies, willing to participate in the project to submit their applications by July 8. The report also goes on to explain that content creators and content development companies willing to participate in the Metaverse Content Creation Project can form consortiums with token-issuing companies.
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