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EU Looks to Take Lead in Metaverse World, Avoid Big Tech Dominance

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European Union flags flutter outside the European Commission headquarters in Brussels, Belgium.

The scheme includes bringing together creators, media companies, and others to create an industrial ecosystem, setting up regulatory sandboxes, and rolling out skills development programs and virtual public services.

Credit: Yves Herman/Reuters

The European Commission (EC) has outlined a strategy for the European Union (EU) to assume a lead role in the metaverse sector and block its domination by technology giants.

The group said its goal is to develop an accessible, interoperable EU metaverse through an industrial ecosystem established by creators, media companies, and other stakeholders.

These collaborators would help companies evaluate the metaverse and launch skills development initiatives and virtual public services by creating regulatory testbeds.

Said EC vice president Margrethe Vestager, "We need to have people at the center and shape it according to our EU digital rights and principles, to address the risks regarding privacy or disinformation. We want to make sure Web 4.0 becomes an open, secure, trustworthy, fair, and inclusive digital environment for all."

From Reuters
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