EU Urges Metaverse Strategy to Lower Tech Dependence on Global Players

• EU Lawmakers Advocate for Leadership in Shaping the Metaverse
• European Commission's Stance on the Metaverse
• Need for EU Dominance in Metaverse Projects
• Statement by Pablo Arias Echeverría
• Call for Policies to Support European Businesses and Address Risks

EU Lawmakers Advocate for Leadership in Shaping the Metaverse

European Union parliamentarians are keen for the 27-member union to spearhead the formation of the metaverse, with the goal of reducing technological dependencies on other nations and bolstering EU businesses. This proposition was a key aspect of a report submitted by the European Parliament's Committee on Internal Market and Consumer Protection, which discussed the opportunities, risks, and policy implications of virtual realms. The metaverse is defined as a conglomerate of virtual realities that envisions the future of the internet as a shared, engaging, and potentially absorbing digital landscape. The report was ratified on Tuesday, receiving 31 votes in favor and two in opposition.

European Commission's Stance on the Metaverse

The committee's analysis builds on the European Commission's metaverse strategies disclosed in July. While the EU's executive body stopped short of proposing any regulations concerning the virtual dimensions, it emphasized that the supervision of these realms necessitates fresh standards and global governance. The Commission's strategy for Web4 and the metaverse describes these virtual worlds as persistent, immersive environments underpinned by 3D and extended reality (XR) technologies.

Need for EU Dominance in Metaverse Projects

The committee's report underscores that, up until now, metaverse initiatives have been launched predominantly by a handful of companies stationed outside the EU, which have the essential resources and financial prowess. The report further advocates for the EU to assume a leading role in this domain.

Statement by Pablo Arias Echeverría

Europe cannot afford to trail in the forthcoming digital revolution nor can we replicate previous errors, stated Pablo Arias Echeverría, the rapporteur overseeing the initiative's passage through the parliament. As we venture into Web 4.0 with the evolution of virtual worlds, we must establish a solid foundation, grounded in robust EU digital guidelines, guiding principles, and values. Europe must spearhead this transition, situating citizens at the core of our digital future!"

Call for Policies to Support European Businesses and Address Risks

The legislators are calling for the promotion of a level playing field to fortify European businesses, along with the formulation of an appropriate policy framework that includes other countries. Risks associated with mental health, data protection, consumer protection, and cyber violence must be addressed, noted a statement accompanying the report.

Edited by Jonathan Stoker