EU looks to take lead in metaverse world, avoid Big Tech dominance

FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium, June 5, 2020. REUTERS/Yves Herman/File Photo

BRUSSELS (Reuters) - The European Commission on Tuesday set out a plan in a bid to take the lead in the metaverse - shared virtual worlds accessible through the internet - and to prevent Big Tech dominating a nascent sphere that could boost economic growth.

The EU initiative comes as Facebook owner Meta Platforms, Microsoft and Apple work on metaverse products or services, prompting fears that the companies may get an unfair advantage over smaller rivals.