Analysts at the London School of Economics and Political Science (LSE) recently raised an argument that the European Union should form a new company to lead the way in developing new virtual reality world “metaverse.” They compare the idea to Airbus, the big airplane company made up of businesses from different European countries.
In a new report, analysts argued that Europe might surpass the United States, China, and other countries in developing the next generation of virtual worlds and the internet by establishing a metaverse firm in the “Airbus-style”. They emphasized that Europe possesses the technological know-how and economic might to take the lead in this emerging field.
Airbus was formed in 2000 by merging airplane companies from France, Germany, and Spain. It has become the world’s top maker of planes and helicopters. The London experts think doing something similar, but for metaverse innovation, can keep Europe competitive.
Furthermore, the report says a cross-country “industrial cluster” for the metaverse “will create specialized internet skills in Europe” and make related education programs more interesting. They looked at big European brands that are already working on metaverse projects which include BMW, Ikea, and Ericsson.
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