Metaverse VR Virtual Reality Cyber City World

France hints at rapid development in metaverse sector

France has thrown its hat in the ring for metaverse development following the launch of a public consultation to guide its future activities in the sector.

The country’s Directorate General for Enterprise announced the start of the metaverse consultation on April 11, which it says will give companies, associations, research fellows, and ordinary citizens a chance to play a role. The consultation will form the bedrock of France’s future incursions into virtual worlds, according to the statement.

“The purpose of this questionnaire is to allow the various stakeholders to express themselves on their expectations in the face of this novelty in order to design a French strategy capable of anticipating this transition,” read the release.

The Directorate General of Enterprise confirmed that it was aware of the rapid innovation in virtual worlds and hopes to “offer an alternative to the virtual immersive universes currently offered by the international giants.” The public consultation will run until May 2, 2023, with interested members urged to complete an online survey.

Citizens taking the survey are quizzed on their level of expertise with blockchain technology, mixed reality, and digital twins. The agency goes on with probing questions on whether the French government should focus metaverse use cases on health, entertainment, or education.

On the other hand, researchers are being asked about their opinion on where the demand for virtual immersive universes will come from and the obstacles slowing the growth of French metaverse firms. The researchers are urged to share their opinion on which areas the government should fund to achieve the industry’s best growth.

In the last 24 months, several Big Tech firms have been exploring the use of virtual worlds amid fears of a growing monopoly. Facebook (NASDAQ: META) famously rebranded to Meta, while Microsoft (NASDAQ: MSFT) has been striking deals with firms building in the metaverse as the race heats up.

A national approach to virtual worlds

While private enterprises are leading the charge for virtual worlds, some governments are not standing idly on the sidelines but are spearheading metaverse developments in their countries. South Korea’s government has splurged over $200 million on metaverse funding for content creators and firms dabbling in the industry in under two years.

Despite a blanket ban on digital currency, China’s metaverse industry appears to have the backing of the government. In August 2022, the government unveiled a two-year plan for metaverse development designed to establish it as the leading hub in the grand scheme of things.

Watch: Masters of the Metaverse

YouTube video

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.