• German government has invested $1.2 million in Flying Sheep Studios, a metaverse game startup based in Cologne.
• The funds will be used to develop a free-to-play-anywhere game called Star Life which will include blockchain elements and non-fungible tokens (NFTs).
• This is part of the federal budget allocation to support interactive experiences and grow the national metaverse industry.
German Government Invests in Metaverse Startup
The German government has allocated $1.2 million in funding for a metaverse game being developed by Flying Sheep Studios, based in Cologne. The company will use the funds for the development of an online role playing experience called Star Life, which will also include blockchain elements in the form of non-fungible tokens (NFTs).
Funding From Federal Ministry
Flying Sheep Studios raised $1.2 million from the German Federal Ministry for Economic Affairs and Climate Action to accelerate its progress on the project. Thomas Rössig, managing director of Flying Sheep Studios, expressed his gratitude for the investment stating that it demonstrates how federal budgets can be used to foster technical know-how made in Germany.
Star Life Overview
Star Life is a free-to-play anywhere game that focuses on cooperation and socialization between diverse users who are part of its virtual metaverse. It will also incorporate blockchain elements with NFTs that can be transported to other games or metaverses giving players more control over their items as well as monetization options.
Investment From South Korea
South Korea recently announced an investment of $51 million into local metaverse projects and private companies like Meta are now pivoting to put more funds into art related projects as well as video games within this space.
Conclusion
The investment from Germany shows how governments are taking responsibility when it comes to investing in these kinds of projects taking place within the metaverse industry and paving way for growth within this sector globally.