Who controls the metaverse? Spoiler alert: It’s not policymakers

by | Oct 10, 2022 | Technology

As the metaverse continues to grow and promises to change the way we work and play, who is charged with making sure it’s functional and accessible for everyone? This was among the topics discussed last week at MetaBeat. 

Policymakers and regulation will play a key role in increasing accessibility through interoperability and increased user friendliness. However, MetaBeat panelists argued that success in the short and medium term will rely on business incentives in a session titled “Getting it right: Why open conversation between the tech community and policymakers is critical to building a more friendly and functional metaverse from the start.”

According to the panel — which featured Moritz Baier-Lentz, founding member of Metaverse Initiative at the World Economic Forum; Raza Rizvi, partner at Simmons and Simmons; and Jarrod Barnes, clinical assistant professor of sport management at New York University — business incentives will be the main driver of changes that will lead to a more inclusive metaverse.

Baier-Lentz and Rizvi say they don’t believe change will come from top-down U.S. government policy and regulation. Rizvi summed it up this way: “The U.S. innovates and Europe regulates.” Barnes said that policy and regulation will have a bigger role to play. However, that would happen in the distant future.

“Community is a big buzzword. We always think about behavior within the metaverse and what is acceptable behavior, and essentially how that forms our perspective, not only of our world, [but also] the virtual world,” Barnes said.

“As we are thinking of words like diversity, equ …

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