Spain will offer grants to Metaverse companies – Metaverse Bitcoin News

The Spanish government has announced that it will issue a number of grants and assistance for metaverse-related development. Individuals and companies interested in receiving these grants must be based in the EU or Spain and present a plan and meet a number of requirements to be considered. The first pile of grants will be dedicated to the gaming and entertainment sector.

Spain recognizes the relevance of the metaverse

Countries from all over the world are now considering the meta-verse and its related technologies as important development pillars for the future. Spain has announced that it will dedicate more than $ 4 million in grants to meta-related projects. The grant program, which will be administered by the Ministry of Economic Affairs and Digital Transformation in the country, will be aimed at companies and individuals working on metaverse projects in the EU or in Spain directly.

Those interested in applying for these grants must present a plan to the ministry, which explains the scope and objectives of each project. For companies or teams, women will have to represent 25% of the organization to apply for these grants.

The Ministry expects that this program will entice companies from all over Europe to include the meta-verse as part of their plans for the future.

Countries interested in the meta-verse

While the concept of metaverse is still very broad, companies are already working to establish a form of dominance in the field. This first group of grants will be aimed at gaming and video entertainment companies, as the meta-verse is closely linked to these industries, at present. At the same time, the ministry has opened a process to include experimental projects using virtual, augmented and augmented reality-related companies.

The estimate of the Spanish ministry is that the metaverse will have a value of over one billion dollars by 2026. Other countries also take the metaverse very seriously. One of these is Dubai, which is reportedly in talks with third parties to make some of its government offices and services metaverse-ready. The country’s virtual asset regulator was also one of the first to establish an office in the meta-verse.

In the same way, other countries invest directly in metaverse investments. In May, South Korea revealed a $ 177 million investment to kickstart national companies working on meta-related projects.

What do you think about the subsidy program that Spain has targeted at metaverse companies? Tell us in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game, and entered the cryptosphere when the price increase occurred during December 2017. He has a computer engineering background, lives in Venezuela and is influenced by the cryptocurrency boom on a social level, and offers a different view of crypto success and how it helps the unbanked and underprivileged.

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