South Korea Launches Metaverse Replica of Seoul - CoinDesk

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South Korea is bringing Seoul to the metaverse, launching a virtual replica of the superior metropolis with a extremity of improving its nationalist services, Forkast reported Monday.

Known arsenic Metaverse Seoul, the virtual satellite is estimated to beryllium completed by 2026. The archetypal signifier invites citizens to usage avatars to get their taxation questions answered, entree younker counseling, find enactment for tiny businesses and adjacent read e-books.

In aboriginal stages, the virtual satellite volition grow to existent property and overseas capitalist services, incorporating augmented world to negociate municipal infrastructure. It besides plans to present blockchain technologies including cryptocurrency.

South Korea has been expanding its metaverse initiatives arsenic a portion of its “Digital New Deal” governmental initiative. In February 2022, the federation announced plans to earmark astir $200 million to money metaverse projects, giving retired grants to universities and companies to assistance grow their technologies. The Bank of Korea besides reportedly completed a trial of cardinal slope integer currencies successful November.

South Korea isn’t the lone state making important investments successful the metaverse. In October, Japan’s Prime Minister, Fumio Kishida, laid retired the country’s plans to put successful non-fungible tokens (NFT) and metaverse services.


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