A metaverse game being created by Flying Sheep Studios has received financing from the German government in the amount of $1.2 million. The Cologne-based startup plans to utilize the money to create the game Star Life, which will also use blockchain components in the form of non-fungible tokens (NFTs).

The money was part of the budget allotted by the federal government to encourage interactive experiences, and it came from the German Federal Ministry for Economic Affairs and Climate Action. With this fund, the business has been able to bring on more employees, speeding up the game's completion.

The development of a national metaverse and video game business need this type of assistance, according to Thomas Rössig, managing director of Flying Sheep Studios. He stated:

"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."

The money will be used to create Star Life, a free-to-play game that will be available everywhere and emphasize teamwork and interaction amongst different players who will be a part of the game's virtual metaverse.

Also, the game will incorporate blockchain components, with NFTs serving as objects that may travel between different games and metaverses. Although the introduction of a digital token for the game has not yet been disclosed, this will provide players greater power over how these optional aspects will be maintained on the platform and even the chance to generate monetization alternatives.

Despite predictions that the metaverse would enter a cooling off period in 2023, several nations have taken it upon themselves to actively support these initiatives. This is the situation with South Korea, which just revealed a $51 million investment in regional metaverse-related initiatives. Private businesses, including Meta, have lately switched their investments to focus more on the artificial intelligence sector than the metaverse market.

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