South Korea aims to become the 5th largest metaverse market by 2026

The hype of Metaverse is unmatchable as large companies are opening their stores in the virtual world. First, we had H&M, and then Samsung opened its store there. And now South Korea says that it aims to become the 5th largest Metaverse market by 2026. It aims to become a significant player in the field and has also unveiled a 5-year plan for the same. All this suggests one thing, blockchain and its various applications like crypto, NFTs, and the Metaverse is here to stay.

South Korea in the Metaverse

The country is taking this really seriously as they plan to work with around 220 Metaverse companies for the same. The idea here is to create an academy to have over 40k professionals in the space to lead the industry. There will also be a Korean language institute that will increase interactions globally and help them engage in projects. South Korea is eyeing arts, tourism, and K-pop as plausible projects for the Metaverse.

Image Source: Euronews

Reports suggest that the Metaverse can also become a great way for the nation to build jobs. A single Metverse can create over 1.5 million openings for employees. At the same time, the growth of the VR market by 24% will happen at an unprecedented rate and reach $2.5 B by 2024.

South Korea will also have academics that will engage with startups on a global scale. At the same time, their goal is to build an environment of trust that prevents user harassment or exploitation by having strict guidelines.

Are you investing in Metaverse already?

At present, the two most popular Metaverse tokens are MANA and SAND. They are expected to do well in the upcoming years if the Metaverse craze doesn’t die away. At the same time, there are some lesser-known tokens like Gala and Mines of dalarnia that also have good potential. It seems like a good time to have a solid position on such tokens and hold for the long term.

What are your thoughts as South Korea aims to become the 5th largest metaverse market by 2026? And do you think they will be able to do so, or will bigger nations race ahead? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Indonesian Organization forbids Muslims to use crypto by decree.