Banko Selected as Consortium Operator for Ministry of Science and ICT Metaverse Platform Development Project

[Asia Economy Reporter Lee Jung-yoon] Blockchain specialist company Banko announced on the 21st that it has been selected as the final operator for the '2022 Metaverse Platform Development Support Project' promoted by the Ministry of Science and ICT and the Radio Promotion Association of Korea (RAPA), and has signed an agreement.

Banko is a company that has achieved results in new businesses such as blockchain and metaverse over several years. Its cryptocurrency exchange, Borabit, has completed the registration with the Financial Services Commission as a virtual asset exchange operator, and it is developing a metaverse platform as a national research and development (R&D) project under the Ministry of Culture, Sports and Tourism.

As part of the Ministry of Science and ICT project, Banko will develop metaverse tourism content themed around Jeonju Hanok Village as a regional specialized metaverse service to revitalize the local economy. Additionally, it will be responsible for developing a marketplace structure where local small business owners can easily issue NFTs (non-fungible tokens) for regional specialties and cultural content, which can be consumed not only by domestic but also foreign tourists.

Kang Dae-gu, CEO of Banko, said, "It is an honor to be able to develop and provide a marketplace that can link NFTs to a government-led project," adding, "We will open a new ecosystem where local small business owners can easily access NFTs and create added value through them."

This content was produced with the assistance of AI translation services.