The Spanish Ministry of Culture and Sports has decided to invest 8 million euros ($8.5 million) in the development of video games and metaverse experiences. The initiative is part of Spain's Recovery, Transformation and Resilience Plan and will provide grants for incubation projects in these areas in 2023.

The program is currently in its second wave, with a 700% increase in funding compared to the first wave, which only had more than 1 million euros to help companies in the sector. The funds will be provided by the European Union as part of the "Recovery, Transformation and Resilience Plan" and will be provided to companies in the sector in the form of annual or multi-year grants. (Bitcoin.com)