Spain to Offer Grants for Metaverse Companies – Metaverse Bitcoin News

The Spanish government has announced that it will issue a series of grants and aid for developments related to metaverse. Individuals and companies interested in receiving these grants will need to be based in the European Union or Spain and submit a plan, and meet a series of requirements, to be considered. The first set of grants will be dedicated to the gaming and entertainment sector.

Spain Recognizes Importance of the Metaverse

Countries around the world now consider the metaverse and its related technologies important development pillars for the future. Spain has announced it will dedicate more than $ 4 million in grants for metavers-related projects. The grant program, which will be administered by the country’s Ministry of Economic Affairs and Digital Transformation, will be aimed at companies and individuals working on the metaverse projects in the European Union or in Spain directly.

Those interested in applying for these grants will need to submit a plan to the ministry, explaining 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 this program to attract companies from across Europe to include the metaverse as part of its plans for the future.

Countries Interested in the Metaverse

While the concept of the metaverse is still very broad, companies are already working to establish some dominance in the field. This first set of grants will be aimed at video game and video game companies, as the metaverse relates closely to these industries, at present. At the same time, the ministry has opened a process to include experimental projects using virtual, augmented and extended real-time related companies.

The Spanish ministry’s estimate is that the metaverse will be worth more than a billion dollars by 2026. Other countries are also taking the metaverse very seriously. One of these is Dubai, which is reportedly in negotiations with third parties to get some of its government offices and services metaverse ready. Also, the country’s regulator of virtual assets was one of the first to establish an office in the metaverse.

In the same way, other countries put finance directly into metaverse investments. In May, South Korea unveiled an investment of $ 177 million to start up national companies working on metavers-related projects.

What do you think of the subsidy program that Spain has directed for metaverse companies? Tell us in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price hike occurred during December 2017. Having a computer engineering background, living in Venezuela, and being affected by the cryptocurrency boom on a social level, he offers a different point of view. about crypto success and how it helps the unbanked and underserved.

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