South Korea’s science and ICT ministry announced it will hire companies to participate in the 2022 Metaverse Content Creation Project. According to a ministry director, the project is being promoted in line with the country’s leading industry-leading metaverse strategy.
The Ministry of Science and Internet and Communication Technology of South Korea has announced that it will recruit companies to participate in the 2022 Metaverse Content Creation Project. South Korea plans to support local metaverse content creators and issue non-fungible tokens.
A report from the Korean language publication News 1 states that the project’s goal is to build trust in the metaverse content ecosystem. Each company will receive $160,000 (200,000,000 won) and four companies will be chosen to take part in the project.
Heo Won Seok, the director of software policy at Ministry of Science and ICT is quoted in the report as explaining why South Korea has adopted the metaverse. According to the director:
The metaverse’s new industry-leading strategy promotes this project. We will do everything we can to make Korea a leader in the metaverse. This includes providing content for all ages and supporting creators’ creative endeavors.
According to the report companies who wish to be part of the project must submit their applications by July 8. The report also stated that content creators and content developers can join consortiums with token-issuing businesses if they wish to take part in the project.