While the idea of the metaverse is still exceptionally wide, organizations are as of now making progress toward laying out a predominance in the field of some sort or another. Similarly, many nations are straightforwardly investing tax money into metaverse ventures. In May, South Korea introduced a venture of $177 million to launch public organizations working on metaverse-related projects.
Nations from every continent are currently considering the metaverse and its related technologies as significant for what’s to come. Spain has reported it will devote more than $4 million in grants for metaverse-related projects. The grants program, which will be overseen by the Ministry of Economic Affairs and Digital Transformation of the country, will be coordinated with organizations and individuals dealing with metaverse projects in the European Union or in Spain itself.
This first group of grants will be diverted to gaming and entertainment organizations, as the metaverse is related to these businesses, at present. Simultaneously, the service has opened the door for experimental projects utilizing virtual, expanded, and Web3 organizations.
Organizations interested in these grants should put up a presentation before the ministry. They should lay down their objectives and goals in their presentation. For organizations or groups, women should be at least 25% of the workforce in the firm to be eligible for these grants.
The ministry expects this program will tempt organizations in Europe to include metaverse in their plans for the future.
The assessment of the Spanish ministry is that the metaverse will be worth about a billion dollars by 2026. Different nations are additionally treating the metaverse in a serious way. One of them is Dubai, which is supposedly in talks with other countries to make a portion of its administrative offices and administrations metaverse-prepared. Additionally, the virtual assets regulator of the country was one of the first to lay out an office in the metaverse.