Spain’s government has made it clear that they will be granting grants and assistance for metaverse related developments. To be eligible for these grants, individuals or companies must be located in Spain, the European Union, or Spain, have a plan and fulfill a number of conditions. First, grants will go to entertainment and gaming.
Spain acknowledges relevance of the Metaverse
The metaverse and related technologies are being considered by countries around the world as vital development pillars. Spain announced that it would provide more than $4million in grants to metaverse-related projects. The grant program, managed by Spain’s Ministry of Economic Affairs and Digital Transformation, is directed at individuals and businesses working directly on metaverse projects either in Spain or the European Union.
Anyone who is interested in applying to these grants must present to the ministry a plan outlining the scope and objectives of their project. These grants will be available to companies or teams that have women representing 25%.
This program is expected to encourage companies across Europe to consider the metaverse in their future plans.
The Metaverse is a topic of interest to countries
Companies are working to create a dominant position in this field, even though the concept is not yet fully understood. The first round of grants will go to video- and gaming companies. This is because the metaverse is closely related to those industries. The ministry also opened an application process for experimental projects that use virtual, extended, or augmented reality companies.
According to estimates by the Spanish Ministry, the metaverse could be worth more than one billion dollars by 2026. The metaverse is also being taken seriously by other countries. Dubai is one of them. According to reports, Dubai is in discussions with third parties about making some of its services and government offices metaverse-ready. The country’s virtual assets regulator was also the first to open an office in the metaverse.
Similar to South Korea, countries from other nations are also investing directly in metaverse investments. South Korea made a $177million investment to start up national companies involved in metaverse projects.
How do you feel about Spain’s grant program directed to metaverse-related companies? Comment below.
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