EXCLUSIVE: Metavers: the 10 proposals in the report commissioned by the government

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Monday, October 24, 2022

A report that has just been submitted to the Ministers of Finance, Digital and Culture recommends experimenting with and anticipating the legal changes associated with metavers.

It was a year ago. At the height of the crypto market craze, US giant Facebook announced to the world its big switch to... metavers. A new project, a new strategy and a new name! While Meta hasn't changed from top to bottom since then, and crypto markets have fallen sharply, Mark Zuckerberg's ambitions have prompted many players to position themselves on the subject, starting with governments... including France.

During the presidential campaign, Emmanuel Macron called for the creation of a "European metavers" so as not to be "dependent on Anglo-Saxon or Chinese players and aggregators".

He has also, via his finance, digital and culture ministers, commissioned a report on the subject of metavers. The aim? To take a look at this new technology, its potential, but also its limits.

This report, written by Camille François, a researcher at Columbia University (USA), Adrien Basdevant,a lawyer at the Paris Bar, and Rémi Ronfard, a researcher at Inria, has just been submitted this week to the ministers concerned.

The Big Whale was able to consult this report, which is intended to feed into the government's strategy. Here is an exclusive look at some of its ten proposals.

Create a public/private consortium of French players to offer immersive experiences during the 2024 Olympic Games in Paris.
Put in place public orders that meet the objectives of cultural sovereignty and technological sovereignty.
Start work "right away" on adapting European texts (RGPD, DMA and DSA) to the challenges of metavers.
Invest in tools and techniques for analysing metavers and the transactions that take place in them.
Create a research and coordination institute, based on the Ircam model, which would be both a computer science research laboratory dedicated to the immersive arts.

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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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