Skip to main content

Spain Will Provide 8 Million Euros in Grants to Develop Video Game and Metaverse Experiences

spain metaverse videogames

The Ministry of Culture and Sports of Spain has decided to direct 8 million euros ($8.5 million) toward the development of video games and narrative metaverse experiences. The program, part of the Spanish “Recovery, Transformation, and Resilience Plan” will give grants directed to incubate projects in these areas in 2023.

Spain Directs 8 Million Euros to Help the Metaverse and Video Game Ecosystem

Video games and metaverse experiences are starting to be considered in the cultural plans of some key states around the world. The Ministry of Culture of Spain has decided to direct 8 million euros ($8.51 million) for the development of video games and metaverse experiences, as the organization recognizes the value of these industries for the country.

The program, which is currently in its second wave, increased the funds by 700% compared to its first wave when little more than 1 million euros were destined to help companies in the sector. However, 25 projects were selected to enjoy these grants at that time.

The funds, to be provided by the European Union, will be delivered in the form of yearly or multi-yearly grants to companies in the sector as a part of the “Recovery, Transformation, and Resilience Plan” that seeks the digitization and modernization of all aspects of the Spanish economy. Other countries, such as Korea, have already directed funds for metaverse investments.

Importance of Video Games and Metaverse

To the minister of culture of Spain, Miquel Iceta, the video game industry has a big part to play in the transformation of the Spanish productive model. About these grants, Iceta stated they “will contribute to promoting the projects of our SMEs [small and medium-sized enterprises] and our self-employed workers, thus consolidating the image of Spain as a reference audiovisual hub, also in the videogame sector.”

As part of this commitment, video games, as metaverse experiences, will now be considered cultural creations. This means that now the National Library of Spain will have to conserve these as Spanish heritage, and they will be collected to ensure preservation for future generations.

The immersive experiences sector is significant in the country, where video games are the most popular audiovisual entertainment option in Spain, leaving movies behind. This is why Iceta wants to put Spain in a spot where it can compete with other countries in the industry and export its games to other nations. The Spanish video game market is also expected to grow 20% yearly, so its size might cross the 2.3 billion euro ($2.44 billion) mark in 2024.

What do you think about the grant programs offered to the metaverse and the video game industry by Spain? Tell us in the comments section below.



from Bitcoin News https://ift.tt/NVltucw

Comments

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...