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The Future of Digital Markets: The EU’s Metaverse Regulatory Review

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According to the report, the EU antitrust director Margrethe Vestager said that the virtual world accessible through the Internet was the next digital market t…

The Future of Digital Markets: The EU’s Metaverse Regulatory Review

According to the report, the EU antitrust director Margrethe Vestager said that the virtual world accessible through the Internet was the next digital market to attract regulatory review. Vestager said at a meeting that it is time for us to start thinking about what healthy competition looks like in the metauniverse, and we have started this work. In the past three years, the global regulatory review of the digital market has been upgrading. Reuters

EU antitrust director: It is necessary to review the competition in the metauniverse

Interpretation of the news:


The European Union’s (EU) antitrust director Margrethe Vestager has recently announced the next digital market to attract regulatory review: the virtual world accessible through the internet, also known as the metaverse. In a meeting, Vestager emphasized the importance of thinking about what healthy competition looks like in the metaverse and that the EU has already started this work.

The EU’s focus on the metaverse is a significant development for digital markets, which have experienced increasing scrutiny in recent years. As technology evolves at an unprecedented rate, traditional regulatory frameworks have struggled to keep up with digital innovations. Additionally, the COVID-19 pandemic has accelerated the importance of digital technologies, further highlighting the need for regulatory oversight.

Vestager’s comments suggest that EU regulators are actively seeking to address the unique challenges posed by digital markets’ latest iteration. The metaverse involves the creation of virtual worlds that allow people to interact and engage in a variety of activities that take place in a digital reality. These virtual worlds have already attracted significant investment from major tech companies such as Facebook, which has committed to building its metaverse, the “Facebook Horizon.”

The EU’s regulatory focus on the metaverse is an essential step towards establishing healthy competition in the digital space. Competition in the metaverse is crucial as it could influence the products and services offered and determine who dominates the market. Vestager’s comments reflect the EU’s commitment to ensuring sufficient competition in the digital marketplace and ensuring that consumers benefit from new advancements in technology.

In conclusion, Vestager’s announcement emphasizes the EU’s determination to ensure healthy competition in the ever-evolving digital market space, and the focus on the metaverse is proof of how seriously they take this issue. The regulatory scrutiny on the metaverse highlights the EU’s willingness to adapt to changing technological landscapes to benefit consumers.

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