In 2023, the European Union (EU), will launch an initiative to address the metaverse. It will also include all interactions and activities that occur in it. This proposal was classified as “key” in the State of the Union Letter of Intent authored by Ursula von der Leyen (President of the European Commission). It will include several initiatives that clarify Europe’s expectations and rules for the metaverse.
Many countries around the globe are integrating their regulatory frameworks and infrastructure to help support activities in the metaverse. The European Union bloc has announced recently a global initiative to help Europe “thrive” in the metaverse.
Ursula von der Leyen of the European Commission referred to the initiative as “key. It is part of the latest State of the Union letter of intention, which calls for “a Europe fit in the digital age.”
This initiative will be delivered by the Commission in 2023. The Commission takes into consideration different activities already taking place in the metaverse.
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Thierry Breton is the commissioner for the European Union’s internal market. He explained how the commission will be preparing this all-encompassing initiative. This organization will develop standards and improve interoperability between the various metaverse worlds.
Breton made the observation that communication is essential between these metaverses.
Private metaverses must be built on interoperable standards. No one private actor should have the keys to the public square. We won’t see a new Wild West nor new private monopolies.
The Virtual and Augmented Reality Industrial Coalition was established to organize the system for grouping providers of technologies that the metaverse is built on — software, middleware, and other platforms included — and it has been successfully launched. This institution aims at bringing together key stakeholders in this area.
Breton also explained that connectivity is a key aspect of the institution’s mission. It will need to identify the infrastructure requirements to ensure the metaverse flourishes. Breton stated:
We will conduct a thorough reflection and consultation about the vision and business model for the infrastructure we need to support the data volumes and the continuous, instant interactions that will occur in the metaverses.
The European Union recently presented an initiative to combat counterfeiting using NFTs and blockchain technologies.