South Korea launches ‘Metaverse Fund’ to expedite domestic initiatives By Cointelegraph

While some global economies got distracted by the commotion around price instability and ecosystem collapses in crypto, South Korea doubled down on the metaverse’s potential as a new economic growth engine.

South Korea’s Ministry of Science and ICT announced investments in a fund dedicated to driving metaverse initiatives in the country. According to the official announcement, the South Korean government invested 24 billion Korean won ($18.1 million) to create a fund of more than 40 billion Korean won ($30.2 million) toward metaverse development.