Can A “European Metaverse” Outperform US & China?

By Sayantani Sanyal, Analytics Insight

It is quite evident that the metaverse offers the biggest opportunity for success and development for modern businesses since the creation of the internet. The metaverse is well-renowned for being the next revolution of digital partners and the successor of traditional mobile internet. This new emerging platform is becoming important because it offers a new way for businesses to communicate and collaborate with users from anywhere in the world. Major big tech companies based in the UK and US are jumping on the metaverse bandwagon to realize the immersive benefits that this evolving platform has to offer. This new virtual reality platform will allow users to be anywhere and with anyone in a realistic setting. These benefits can lead companies to gain better perspectives on engaging with customers and make collaborations easier with partners.

Most global big tech companies are increasing their metaverse funding strategies to adopt the concept of shared worlds driven by virtual products and digital experiences that are highly immersive and interactive. In fact, tech startups around the world have included metaverse as a crucial part of business promotion and conducting operations. Unfortunately, among all the countries marching towards developing their businesses, Europe has been lagging behind. Recent initiatives by the EU might turn this situation around. Tech experts claim that EU policies should change and instead should encourage the continued health and development of the ecosystem. Presently, recent reports suggest that European businesses, investors, and the talent pool residing in European countries are realizing the metaverse domain. Some of the political heavyweights of the EU are also making moves in this domain.

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