The Spanish government announced that it will allocate almost €4 million to finance projects of individuals and companies involved in the development of the metaverse.
To participate in the competition for government grants, interested participants must be based in the European Union or Spain, and also submit a project for the metaverse they are creating. This initiative is part of a plan launched to develop Spain as an audiovisual center as part of the Digital Spain 2026 strategy.
According to the forecast of the Spanish Ministry of Economy and Digital Transformation (MINECO), business related to virtual and augmented reality may exceed $1 billion by 2026. The first tranche of €3.6 million will be addressed to companies that produce immersive content in the audiovisual industry and the sector games for the metaverse.
Recall that in mid-July, the Spanish bank Santander will raffle off a prize fund of $120,000 for business development among six companies that will present the most effective solutions focused on digital technologies – from privacy and security to decentralized finance (DeFi).
Source: Bits
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