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Shaping the Digital Frontier: The EU’s Vision for an Open and Secure Metaverse

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The European Union (EU) is taking a proactive stance in shaping the future of the metaverse, a shared, immersive digital space that is being touted as the next frontier of technology. Amid concerns of a potential monopoly by large tech-centric companies, the EU is championing the cause of interoperability, user freedom, corporate partnerships, and tailored regulations to ensure a secure and open metaverse.

A leaked draft document from the EU Commission, expected to be released on July 11, reveals the EU’s vision for the metaverse. The document underlines the unprecedented opportunities that virtual worlds bring in various societal areas, while also acknowledging the need for new forms of global governance to manage this technological shift.

The draft document, which was seen by Coindesk, indicates the need for changes in existing legal frameworks to pave the way for new entities similar to decentralised autonomous organisations (DAOs) that would oversee metaverse activities. The EU Commission emphasises several key areas, including health, education, and culture, and envisions a community-driven “web4” that upholds EU values and rules.

To achieve this vision, the document encourages international collaboration on technology standards, identity management, and censorship. The Commission is also supporting the creation of a technical multi-stakeholder governance process to address essential aspects of virtual worlds and Web4 that are beyond the remit of existing internet governance institutions.

The EU has been a leader in digital asset regulation, with the Markets in Crypto Assets Regulation (MiCA) being a prime example of their leadership. This draft legislation aims to regulate cryptocurrencies, stablecoins, and digital asset exchanges and has been praised as a landmark in industry regulation.

The new metaverse document from the EU seeks to strike a balance between users, corporations, and regulators. It emphasises user freedom and interoperability while maintaining stringent standards for data privacy, protection, and gender-based laws. The EU also plans to roll out “sandboxes” to test smaller projects under its rules and introduce a Virtual World Toolbox in Q1 2024.

For corporations, the strategy suggests the creation of specialised web3 hubs focusing on gaming, virtual reality, and related technology. The EU also emphasises the importance of forming partnerships with significant companies to facilitate the development of a metaverse roadmap across the jurisdiction.

As the metaverse sector expands, there are concerns about the emergence of enclosed “walled garden” networks. In response, the EU has stated it will continue to work with firms to promote an open web 4.0, demonstrating its commitment to ensuring the metaverse adheres to its core values, even as it evolves.

The EU’s vision for the metaverse is clear: an open, secure space that champions interoperability, user freedom, and corporate partnerships, all under the umbrella of tailored regulations. As we stand on the precipice of this new digital frontier, the EU’s proactive stance sets a precedent for other jurisdictions to follow.

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A Conversation with BRN Metaverse: An Insight into Their Ecosystem, NFTs, and AI Integration

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CoinReporter: Greetings, Seyran! It’s always a pleasure to catch up with industry leaders. Our readers at CoinReporter are eager to dive deep into BRN Metaverse, its offerings, and the innovations you’re spearheading.

Seyran Gorur: Hello! Thank you for having me. BRN Metaverse took root two years ago in Turkey. Our portfolio encompasses a game, an NFT marketplace, a SEG platform, among others. We’re leveraging technologies such as Webtree, Game NFTs, Game Finance, Meterers, and of course, AI. In fact, our game is intricately crafted using Webtree and AI, aiming to lead and democratize next-gen technologies for the masses.

CoinReporter: Your NFT marketplace has garnered significant attention. Could you elucidate on its journey?

Seyran Gorur: Absolutely! We ventured into the NFT space just two weeks ago. And to our delight, we’ve marked the sale of over 2,000 NFTs, each echoing our game characters. This momentum in such a saturated NFT market is heartening. It underscores the distinctive appeal and resonance of our game characters in the NFT universe.

CoinReporter: Intriguing! We’re also curious about your AI integrations. Can you shed light on this aspect?

Seyran Gorur: Of course. In our game, we’ve embedded NPCs and chatbots. But what truly elevates the experience is the AI-centric interface where player choices dynamically shape the game’s environment.

CoinReporter: Let’s touch upon cryptocurrencies. Does BRN Metaverse boast its proprietary token?

Seyran Gorur: Yes, we’ve introduced the PRN Metaverse token. Enthusiasts can find it on platforms like Gate.io, Maxi, and PancakeSwap.

CoinReporter: ‘Metaverse’ is quite the buzzword. How would you encapsulate its essence?

Seyran Gorur: A thoughtful query! For us at BRN Metaverse, it represents a seamless amalgamation of myriad technologies into a singular, immersive domain. By fusing elements like Webtree, blockchain, and cryptocurrency, we believe we’re enhancing their collective potency.

CoinReporter: On the development front, which platforms anchor your product creations?

Seyran Gorur: We entrust Unity for game development. When it comes to contract deployments – be it for staking or our NFT marketplace – Remix is our go-to tool.

CoinReporter: Diversifying a bit, where do you visualize Bitcoin in the upcoming year?

Seyran Gorur: Bitcoin, with its foundational ethos, deeply resonates with me. It’s revolutionizing cross-border transactions. While forecasting the market’s precise trajectory is a challenge, our preparations are calibrated for a potential bull market.

CoinReporter: Any recent alliances you’d like to spotlight before we conclude?

Seyran Gorur: Indeed. We’ve recently set in motion a collaboration with BNB, envisioning a synthesis of multiple chains into our ecosystem. The intricate details are under wraps for now, but I assure you, the future holds promise.

CoinReporter: Seyran, it’s been enlightening to gain these insights into BRN Metaverse. We at CoinReporter eagerly await your next big move. We’re optimistic about reconvening at a subsequent blockchain gathering.

Seyran Gorur: I truly appreciate the opportunity. Engaging with CoinReporter is always a highlight. Here’s to many more such interactions in the future!

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