Metaverse Seoul will offer the city's residents the chance to learn about South Korea's capital, visit tourist attractions, and have access to official city documents, according to Seoul Mayor Oh Se-hoon.
The current amount raided is a far cry from the announcement in 2022 in which Animoca Brands noted that it planned on raising up to $3 billion.
HSBC's trademark focuses on digital media backed by NFTs and virtual currency exchange and transfer, while Fidelity's applications are centered on setting up an NFT marketplace and digital media.
South Korea announced in 2022 that it was investing KRW224 billion in the metaverse, and as the year unfolded, the country’s ambitions only grew grander.
In a meeting at the Korea-Vietnam Economic Forum, Gyeongbuk Governor Lee Cheol-woo unveiled the province’s ambitious plans to use the metaverse to stimulate commercial activities between the nations.
Metaverse and Web3 streaming platform Rad has been acquired by premium movie streaming ROW8 to cater to the growing demands of the industry.
The move will give Microsoft direct control over Activision’s franchises like Call of Duty, Overwatch, and Diablo, and the Federal Trade Commission argues that it may hinder fair competition in the industry.
FTC says the acquisition would give Microsoft monopoly powers which the firm has abused in the past–it deals a big blow to Microsoft’s metaverse ambitions.
On this episode of CoinGeek Conversations, Charles Miller hears from Michael Olagunju, Annie Siara and Borja Burguillos, three tech entrepreneurs who are completing the Satoshi Block Dojo incubator programme.
In support of the government's strategic plan, Daesung Group set up a fund focusing on blockchain, AI, and extended reality as it enters the Web3 space to increase metaverse adoption.
South Korea doubled down on its metaverse strategy, with the Science and ICT Ministry releasing a strategic guide that would allow the country to handle emerging technologies better.