Metavers: the French government to invest €150 million in cultural projects

France invests in the metaverse. One year after Emmanuel Macron's interview with The Big Whale, in which the head of state explained that Europe should be a leader on Web3, Culture Minister Rima Abdul-Malak on Thursday presented a call for projects that will be endowed with €150 million. The aim will be to fund projects that will "promote French culture in immersive environments and ensure our cultural sovereignty in the development of metavers", she explained, without specifying whether there would be other envelopes of this type.

This investment is part of the "France 2030" plan presented in October 2021, which plans to deploy €54 billion "to bring out the future technological champions of tomorrow and support the transitions in our sectors of excellence".

A total of €1 billion is to be devoted to culture to defend France's model of independence, diversity, creative freedom and cultural sovereignty. Already last year, the President of the Republic had stressed the importance of the subject. "I want our main cultural establishments to develop an NFT policy, for example by promoting, disseminating and protecting the twins or variations of their physical collections", he said.

Early this year, the Centre Pompidou began showcasing NFTs in an exhibition. The Paris Opera has issued its first collection to finance new shows. Other initiatives are expected to flourish in the coming months. Not to mention the emulation around The Sandbox, one of the most ambitious metavers... which is French!"

"Today, more and more things are happening in Fortnite, to name but one," insisted Rima Abdul-Malak. "However, this is an American space that has its own rules, and if we want to continue to promote French culture, we need to encourage the emergence of local champions," she added.

"The metaverse has huge potential in culture and leisure thanks to its applications in music, concerts, art exhibitions and so on. We cannot think about our cultural policy in isolation from this revolution", declared Emmanuel Macron.