South Korea to spend $200 billion on Sovereign Wealth Fund for Metaverse

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South Korea allocates a $200 billion sovereign wealth fund to Metaverse. This will be done through the Korea Investment Corp (KIC). KIC reported lively attention to Metaverse and Artificial Intelligence.

The world really knows the epic potential of South Korea. Being such a well-developed and futuristic country, South Korea’s attitude and innovations are completely future-oriented, rather than just being futuristic. In such terms, the government of South Korea takes radical plans and officially announces such an investment by focusing on the future.

Accordingly, South Korea is investing about $200 billion in what is said to be the vibrant future, the Metaverse. Yes, through the Korea Investment Corp (KIC) as much as $200 billion will be spent on Metaverse and its developments. In addition, the KIC would also focus more on artificial intelligence (AI) in addition to the Metaverse.

Obviously, South Korea is known as the home of Metaverse. The tech-savvy country also apparently wants to develop the entire nation with the help of Metaverse. In such cases, aside from just indulging in and researching, the government plans ways to monetize by turning Metaverse into a state wealth fund.

Indeed, South Korean tech giants like Samsung have indulged in the Metaverse as much as possible. Accordingly, as Samsung’s latest Metaverse move, Samsung launched its highly anticipated flagship phone of the year 2022, the Samsung Galaxy S22, at its Metaverse store in Decentraland.

On the other hand, the epic game maker Krafton, who brought a revolutionary game that is still all the rage, the Players Unknown’s Battlegrounds (PUBG) also announced its radical indulgence on Metaverse. To this end, Krafton will partner with Seoul Auction Blue and Xbyblue for the technical development of their Metaverse characters and also to provide Non Fungible Token (NFT) based services.

This South Korea Post to Spend $200 Billion on Sovereign Wealth Fund for Metaverse was first published at https://thenewscrypto.com/south-korea-dedicates-200b-sovereign-wealth-fund-for-metaverse/

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