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(Kitko News) – South Korea remains at the forefront of blockchain technology adoption and integration as the Asian nation launches a virtual replica of its capital Seoul, the first step in a project dubbed “Metaverse Seoul.” Is. , South Korea said the project is reportedly the world’s first city-backed public metaverse platform.
According to a press release announcing the project, Metaverse Seoul is a three-part project expected to be completed in 2026. During the first phase, Metaverse Seoul focuses on improving the efficiency of public administration services and will allow citizens to make personal use. avatar to explore the platform and access a variety of services, such as obtaining proof of citizenship, tax counseling, mentoring youth, and a help center for struggling businesses.
The second phase, which is expected to go live in 2024, will expand the services available to provide real estate consultancy and connect foreign investors with local industries. The third phase will focus on integrating virtual and augmented reality technology to help manage city infrastructure. It is also planned to introduce blockchain technologies, including cryptocurrency.
Court rules against P2E games
In evidence that the country is still focused on the regulation side of the crypto industry, a court in South Korea has ruled against the release of a blockchain-based play-to-earn (P2E) game after determining in-game irreparable . Tokens (NFTs) promote speculation.
According to a report by Yonhap News Agency, South Korean game developer SkyPeople, the game studio behind the NFT game Five Star, filed an appeal to the earlier decision arguing that in-game items and NFTs are classified as The characters created are not rewards but records of ownership. …
