Flying Sheep Studios Gets USD 1.2 Million in Government Funding

Flying Sheep Studios Gets USD 1.2 Million in Government Funding

Flying Sheep Studios will get USD 1.2 million in funding for developing a metaverse game from the government of Germany. The Cologne-based company will use the funds for the development of a game called Star Life, which will also include blockchain elements in the form of non-fungible tokens (NFTs).

The German Federal Ministry to Fund the Metaverse Start-Up

Flying Sheep Studios, a Cologne-based metaverse startup, has recently announced that it has raised USD 1.2 million from the government of Germany. The funds raised will be used to develop an online metaverse game called Star Life, a multimedia online game.

The German Federal Ministry for Economic Affairs and Climate Action has sanctioned the funding as part of the allocation that the federal government uses to support interactive experiences. This funding has allowed the company to hire an additional workforce to hasten the completion of the game.

Thomas Rössig, managing director of Flying Sheep Studios, stated this kind of support is important to grow a national metaverse and video game industry. He explained:

"We are grateful to the German Federal Ministry for Economic Affairs and Climate Action for their support and trust in our project. This funding demonstrates the federal budget for video games working as intended, fostering the development of cutting-edge technical know-how made in Germany."

The Star Life Game

The Star Life game, which will be developed with the funds raised, will be a free-to-play anywhere game that will focus on cooperation and socialization between diverse users and be part of the virtual metaverse.

The game will also integrate blockchain elements, with NFTs that can be transported to other games and metaverses. This will allow users to have more control over how the optional elements will be managed on the platform and provide the opportunity to establish monetization options, although the introduction of a digital token for the game has not been announced.

While reports have predicted that the metaverse will face a cooling phase during 2023, some countries have been directly funding the projects. South Korea has recently announced an investment of USD 51 million in metaverse-related projects. However, private companies like Meta have recently pivoted to put more funds into the artificial intelligence sector than in the metaverse industry.

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