Global: EU Commission Outlines Strategy for Web 4.0 and Metaverse Leadership

The European Commission has unveiled its strategy to position the European Union as a leader in Web 4.0 and the Metaverse, highlighting the potential for significant job creation and technological advancements. According to the Commission, extended reality (XR) technologies, including virtual reality, augmented reality, and mixed reality, are expected to generate around 860,000 jobs in Europe by 2025.

XR, as a major enabler of virtual worlds, offers immense possibilities beyond the gaming and entertainment sectors, with applications in retail, healthcare, military and defense, manufacturing, and more. The Commission acknowledges that most of the innovation in the Metaverse currently originates from the United States, China, and South Korea, and aims to position Europe as a prominent player in the development of virtual worlds over the next decade.

Virtual worlds, powered by XR devices, are integral to the concept of Web 4.0, where physical and digital elements converge in real-time virtual environments. The Commission envisions this technological transition as a means to revolutionize people’s daily lives and unlock a wide range of opportunities across various business and industrial ecosystems. Virtual worlds can be leveraged for training surgeons, preserving cultural heritage buildings through “digital twins,” and even tackling global warming using 3D models.

To achieve its goal of becoming a world leader in Web 4.0 and the Metaverse, the Commission has proposed ten actions. These include attracting specialized talent in virtual world development to Europe, establishing regulatory sandboxes to foster innovation, and developing global standards for interoperable metaverses. The Commission highlights Europe’s strengths, such as innovative start-ups, rich creative content, a role as a global standard-setter, and an innovation-friendly legal framework, as key factors that position the region for success in this technological transition.

Thierry Breton, the European Commissioner for Internal Market, emphasized Europe’s commitment to leading this new era, stating, “Today, Europe throws its hat in the ring to become a world leader in Web 4.0 and virtual worlds.” The Commission’s strategic plan aims to capitalize on Europe’s potential, fostering an environment conducive to innovation, creativity, and global collaboration in the realm of Web 4.0 and the Metaverse.