The concept of the metaverse has rapidly gained traction across the globe. As this new digital frontier unfolds, nations and international organizations alike have recognized the need to establish governance frameworks for immersive environments. This article explores the current landscape of national metaverse initiatives, shedding light on the strategies and policies being developed by various countries to navigate the evolving metaverse landscape.
China and Japan: Pioneers in the Asian Metaverse Space In Asia, both China and Japan are spearheading metaverse strategies. China’s 5-Year Metaverse Plan, combined with local government efforts in key cities, highlights the nation’s ambition to lead the metaverse revolution. In Japan, the government’s interest is evident, with a dedicated Web3 committee actively developing policies. Ryugukoku, a public-private metaverse collaboration, serves as a major initiative to position Japan at the forefront of this digital realm. South Korea and Singapore: Forging Metaverse Pathways South Korea’s Metaverse strategy, unveiled in 2022, provides a comprehensive framework for metaverse development. The government’s Methaverse Ethical Principles and the Methaverse Industry Promotion Law demonstrate the nation’s commitment to creating a sustainable and ethical metaverse ecosystem. In Singapore, while no official strategy is in place, multiple supportive statements from government officials signify a positive approach to the metaverse’s potential. Source: Metaverse Insider
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