EU seeking a way into the metaverse

• EU Commission presents initiative on Web4.0 and virtual worlds
• In Germany, the metaverse is a topic for 8 percent of companies

Berlin, 11 July 2023 - With an avatar in the virtual shopping mall or a detailed image of the factory as a digital twin in the metaverse - the EU Commission today presented an initiative on Web4.0 and virtual worlds. With it, it aims to support European companies in utilizing the opportunities the opportunities offered by these technologies. "Virtual worlds offer opportunities for new business models not only in commerce and entertainment, but also in industry, the healthcare sector, public administration and in education and training," says Bitkom President Dr. Ralf Wintergerst. "Bitkom welcomes the fact that the EU Commission is opening up an opportunity debate around the metaverse."

Bitkom supports the EU's efforts to strengthen the technological capabilities needed for virtual worlds and to accelerate the introduction of innovative solutions. To this end, so-called "regulatory sandboxes" are intended to create an environment in which new technologies can be tried out more easily and can therefore flourish. The EU also wants to help in particular to bring together companies that develop virtual worlds and industrial users. According to a recent survey of 602 companies from all industries conducted on behalf of Bitkom, more than one-third (36 percent) believe the metaverse will be very important for the competitiveness of German companies in the future. However, just 1 percent have metaverse technologies in use, and 7 percent are planning or discussing moving into the metaverse. "The metaverse has the potential to decisively shape the future of the internet. German and European companies should take a leading role in this. In the Industrial Metaverse in particular, Germany has a very good starting position," says Wintergerst.