The Metaverse and the EU’s opportunity to be proactive
Question for written answer E-003096/2022
to the Commission
Eva Kaili (S&D)
While still difficult to define, the Metaverse is becoming a virtual world with the capacity to revolutionise most aspects of our lives and provide a constantly expanding and immersive three-dimensional online experience.
Studies expect that by 2026, 25 % of people will spend at least an hour a day on the Metaverse, while its economic impact is projected to reach EUR 5 trillion by 2030. Despite its unpredictable nature and potentially skyrocketing value, the Metaverse is likely to transform many fields and sectors from healthcare to education, to the workspace, gaming and much more.
With innovations of such transformative power, there is an urgent need to innovate our policies in the fields and sectors in which the Metaverse can have a significant impact. As Vice-President Vestager has pointed out, the Commission is already examining how it can regulate it.
- 1.Can the Commission report on its progress in understanding how it can regulate the Metaverse and which actions need to be prioritised?
- 2.What is the Commission’s assessment of the impact that the Metaverse will have on competition, cybersecurity and privacy rights?
- 3.When does the Commission expect an impact assessment or proposal to be published?
-  https://www.mckinsey.com/business-functions/growth-marketing-and-sales/our-insights/value-creation-in-the-metaverse
-  https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)733557
-  https://www.reuters.com/world/europe/eus-vestager-says-analysing-metaverse-ahead-possible-regulatory-action-2022-02-08/