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

The German government has allocated $1.2 million in funding for a Metaverse game being developed by Flying Sheep Studios. The Cologne-based company will use the funds to develop 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, recently announcedthat it has raised $1.2 million from the German government. The funds raised will be used to develop Star Life, a metaverse game that offers a multimedia online role-playing experience.

The funding comes from the German Federal Ministry of Economics and Climate Action and is part of an allocation used by the federal government to support interactive experiences. The funding allowed the company to hire additional labor to accelerate the completion of the game.

Thomas Rössig, Managing Director of Flying Sheep Studios, stated that such support is important for the development of the domestic metaverse and the video game industry. He explains:

We thank the German Federal Ministry of Economics and Climate Change for their support and trust in our project. This funding demonstrates that the federal budget for video games works as intended and promotes the development of state-of-the-art technological know-how made in Germany.

More about Starlife

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Star Life, which will be developed with the funds raised, will be a free-to-play game that can be played anywhere, with an emphasis on cooperation and social interaction between diverse users in the game’s virtual metaverse.

The game will also integrate blockchain elements and NFTs will be items that can be carried to other games and metaverses. This will give users more control over how these optional elements are managed on the platform, as well as the opportunity to establish monetization options.

While the Metaverse is reportedly going through a cool-down period during 2023, some countries have taken on the responsibility of directly funding these projects. Such is the case with South Korea, which recently announced a $51 million investment in a local Metaverse-related project. However, private companies such as Meta have recently been steering their funds toward the artificial intelligence sector rather than the metaverse industry.

What do you think about the German government investing in the Metaverse game? Let us know in the comments section below.

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