The Republic of South Korea continues fronting the adoption and integration of blockchain technology in the Asian region. This time around, the country has launched a virtual replica of its capital city Seoul in the metaverse.
South Korea Launches Replica Of Seoul City In Metaverse
In January 17 press release, South Korean authorities confirmed launching a replica of its capital city, “Metaverse Seoul.” South Korea has claimed that its project is the first city-backed public metaverse platform in the broader crypto world.
South Korea first announced its metaverse initiative in February 2022. At the time, the nation allocated more than $200 million to fund the metaverse projects and give out grants to universities and companies to help them expand their technologies.
According to the announcement, the newly launched “Metaverse Seoul” project is a three-part project expected to be completed in 2026. In the first stage, the metaverse platform will focus on improving the efficiency of public administration services, including citizenship, tax counselling, and youth mentoring.
During the second stage, South Korea anticipates offering services such as real estate counselling and connecting foreign investors with local industries. Lastly, it will focus on integrating virtual and augmented reality technology to help manage the city’s infrastructure.
Other Nations Holding Metaverse Ventures
South Korea leads a growing list of nations that continue adopting and integrating blockchain functionality to grow their economies. In August 2022, the Republic of Norway announced adopting the metaverse to launch a tax office in the Decetraland metaverse game.
In October 2022, the United Arabs Emirates confirmed integrating the blockchain functionality to launch a metaverse city to boost tourism. At the time, the UAE tourism authority partnered with Sharjah Commerce for the metaverse project.
In related developments, the Japanese government also adopted non-fungible tokens to reward local government officials for various initiatives they undertook to ease the lives of the public in their respective regions.
- United Arab Emirates Launches Metaverse City To Boost Tourism
- Norway Enters The Metaverse – Opens Tax Office In Decentraland Game
- Japanese Gov’t Adopts NFTs To Reward Its Local Authorities
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