German Government Invests $1.2 Million in Metaverse Startup Flying Sheep Studios

0 2

metaverse german government

knife

The German government has allocated $1.2 million in funding for a metaverse game being developed by Flying Sheep Studios. The company, based in Cologne, will use the funds for the development of a game called Star Life, which will also include blockchain elements in the form of non-fungible tokens (NFTs).

Flying Sheep Studios Raises $1.2 Million From the German Government

Flying Sheep Studios, a Cologne-based metaverse startup, has recently announced that it raised $1.2 million from the German government. The funds raised will be used to develop an online metaverse game called Star Life, a multimedia online role-playing experience.

The funding, which came from the German Federal Ministry for Economic Affairs and Climate Action, is part of the allocation that the federal government uses to support interactive experiences. This raise has allowed the company to hire an additional workforce to accelerate the completion of the game.

Thomas Rössig, managing director of Flying Sheep Studios, stated this kind of support is important to grow a national metaverse and video game industry. He explained:

We are grateful to the German Federal Ministry for Economic Affairs and Climate Action for their support and trust in our project. This funding demonstrates the federal budget for video games working as intended, fostering the development of cutting-edge technical know-how made in Germany.

Star Life Details

Star Life, the game that will be developed with the funds raised, will be a free-to-play-anywhere game that will focus on cooperation and socialization between diverse users, which will be part of the game’s virtual metaverse.

The game will also integrate blockchain elements, with NFTs being items that will be able to be transported to other games and metaverses. This will allow users to have more control over how these optional elements will be managed on the platform and even the opportunity of establishing monetization options — although the introduction of a digital token for the game has not been announced yet.

While reports predict that the metaverse will face a cooldown phase during 2023, some countries have taken the responsibility of funding these projects directly. This is the case with South Korea, which recently announced an investment of $51 million in local metaverse-related projects. However, private companies like Meta have recently pivoted to put more funds into the artificial intelligence field than in the metaverse industry.

What do you think about the German government investing in a metaverse game? Tell us in the comment section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 27,786.44
ethereum
Ethereum (ETH) $ 1,902.47
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 312.42
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.503093
cardano
Cardano (ADA) $ 0.380235
staked-ether
Lido Staked Ether (STETH) $ 1,900.89
dogecoin
Dogecoin (DOGE) $ 0.072615
matic-network
Polygon (MATIC) $ 0.903904
solana
Solana (SOL) $ 20.82
tron
TRON (TRX) $ 0.076439
polkadot
Polkadot (DOT) $ 5.47
litecoin
Litecoin (LTC) $ 91.46
binance-usd
Binance USD (BUSD) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.53
dai
Dai (DAI) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,826.46
uniswap
Uniswap (UNI) $ 5.15
chainlink
Chainlink (LINK) $ 6.56
leo-token
LEO Token (LEO) $ 3.56
cosmos
Cosmos Hub (ATOM) $ 10.78
okb
OKB (OKB) $ 47.10
monero
Monero (XMR) $ 153.32
the-open-network
Toncoin (TON) $ 1.87
ethereum-classic
Ethereum Classic (ETC) $ 18.30
stellar
Stellar (XLM) $ 0.089938
bitcoin-cash
Bitcoin Cash (BCH) $ 114.91
internet-computer
Internet Computer (ICP) $ 4.89
true-usd
TrueUSD (TUSD) $ 1.00
filecoin
Filecoin (FIL) $ 4.65
lido-dao
Lido DAO (LDO) $ 2.21
aptos
Aptos (APT) $ 8.41
hedera-hashgraph
Hedera (HBAR) $ 0.052568
quant-network
Quant (QNT) $ 110.88
arbitrum
Arbitrum (ARB) $ 1.22
crypto-com-chain
Cronos (CRO) $ 0.060593
vechain
VeChain (VET) $ 0.020584
near
NEAR Protocol (NEAR) $ 1.62
apecoin
ApeCoin (APE) $ 3.21
ggtkn
GGTKN (GGTKN) $ 0.112323
the-graph
The Graph (GRT) $ 0.125548
algorand
Algorand (ALGO) $ 0.151009
the-sandbox
The Sandbox (SAND) $ 0.55178
paxos-standard
Pax Dollar (USDP) $ 0.999888
frax
Frax (FRAX) $ 1.00
edgecoin-2
Edgecoin (EDGT) $ 1.00
eos
EOS (EOS) $ 0.900354
aave
Aave (AAVE) $ 67.12
rocket-pool
Rocket Pool (RPL) $ 49.69
elrond-erd-2
MultiversX (EGLD) $ 36.82
render-token
Render (RNDR) $ 2.50
fantom
Fantom (FTM) $ 0.326979
theta-token
Theta Network (THETA) $ 0.876881
tezos
Tezos (XTZ) $ 0.941105
decentraland
Decentraland (MANA) $ 0.479574
blockstack
Stacks (STX) $ 0.627459
axie-infinity
Axie Infinity (AXS) $ 7.05
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,039.78
flow
Flow (FLOW) $ 0.752028
havven
Synthetix Network (SNX) $ 2.41
immutable-x
ImmutableX (IMX) $ 0.760723
neo
NEO (NEO) $ 10.73
bitdao
BitDAO (BIT) $ 0.512001
usdd
USDD (USDD) $ 0.999827
kucoin-shares
KuCoin (KCS) $ 7.49
gala
GALA (GALA) $ 0.029858
radix
Radix (XRD) $ 0.070095
curve-dao-token
Curve DAO (CRV) $ 0.853532
whitebit
WhiteBIT Token (WBT) $ 4.78
gatechain-token
Gate (GT) $ 4.89
bitcoin-sv
Bitcoin SV (BSV) $ 34.11
conflux-token
Conflux (CFX) $ 0.311431
bitget-token
Bitget Token (BGB) $ 0.462199
kava
Kava (KAVA) $ 1.13
iota
IOTA (MIOTA) $ 0.218955
injective-protocol
Injective (INJ) $ 7.42
klay-token
Klaytn (KLAY) $ 0.190868
gemini-dollar
Gemini Dollar (GUSD) $ 1.00
bittorrent
BitTorrent (BTT) $ 0.00000060536219
maker
Maker (MKR) $ 636.36
pepe
Pepe (PEPE) $ 0.000001
sui
Sui (SUI) $ 1.02
casper-network
Casper Network (CSPR) $ 0.04929
chiliz
Chiliz (CHZ) $ 0.100588
huobi-token
Huobi (HT) $ 3.20
tokenize-xchange
Tokenize Xchange (TKX) $ 6.45
mina-protocol
Mina Protocol (MINA) $ 0.567066
pax-gold
PAX Gold (PAXG) $ 1,952.28
optimism
Optimism (OP) $ 1.52
terra-luna
Terra Luna Classic (LUNC) $ 0.000086
frax-share
Frax Share (FXS) $ 6.84
marumarunft
marumaruNFT (MARU) $ 0.249968
gmx
GMX (GMX) $ 56.21
dash
Dash (DASH) $ 43.24
compound-ether
cETH (CETH) $ 38.18
ecash
eCash (XEC) $ 0.000025
tether-gold
Tether Gold (XAUT) $ 1,942.52
trust-wallet-token
Trust Wallet (TWT) $ 1.09