The EU is preparing for the metaverse | ICT Business | TechBuzz

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The EU is preparing for the metaverse


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The European Commissioner for the Internal Market, Thierry Breton, presented a three-step plan around the European Union’s metaverum. He also announced the launch of a VR and AR coalition to encourage investment in the sector.

In a blog post, Breton explained that the metaverse is one of the European Commission’s most pressing challenges and that its plan to boost the virtual world will focus on people, technologies and infrastructure. Breton said the new environment must embed European values ​​from the start, with private virtual worlds developed based on interoperable standards and without a private player effectively holding all the power or setting the terms and conditions. “Innovators and technologies should be allowed to develop unhindered,” he said, adding that the EC would not tolerate new private monopolies.

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Breton believes that shaping the metaverse depends on his ability to master and develop cutting-edge technologies in Europe and build a sustainable ecosystem. To help with its progress, the European Commission has officially launched the VR and AR Industry Coalition, which was first announced in 2020, bringing together stakeholders from key metaversal technologies. The coalition will focus on a specific roadmap supported by more than 40 EU companies spanning large organisations, SMEs and universities.

Breton added that Europe is investing in several metaverse-related technologies, including photonics, semiconductors and new materials, arguing that EU, national and private funds need to be pooled to really push its vision forward. Finally, the EC will focus on building resilient connectivity infrastructure. Breton said that the amount of data exchanged in virtual spaces will be greater than ever, which will put a lot of pressure on the connectivity infrastructure.

Pointing to the challenge, he said that even today, an increasing amount of data is transferred to the infrastructure, but the decrease in income has reduced the appetite for investment and strengthening it. For this purpose, the European Commission will invite all market players who benefit from digital transformation to make a fair contribution to goods, services and infrastructure.

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