Finland has announced ambitious goals to set the pace as a global leader in the rapidly evolving metaverse. This plan is laid out in a newly published strategy called ‘The Metaverse Initiative by the Finnish Ecosystem: Virtual Potential for the Real World’. With this step, Finland becomes the first EU country to establish a comprehensive national metaverse strategy, joining with other countries such as China, Japan, the UK and the UAE, who have already begun exploring the metaverse.
Rejecting the European Commission’s preference for ‘virtual worlds’, Finland decided to mention a ‘metaverse’ in its blueprint. This strategy defines the metaverse as immersive, often incorporating elements of the physical and digital worlds. In particular, we discuss the design of 3D spaces and the metaverse’s ability to remember users and their settings and interact with the real world.
Decoding the Metaverse: Finland’s Clear Choice
Patrick Grady, editor of Metaverse EU, praises Finland’s stance on the term ‘Metaverse’. According to Grady, the term provides a clear framework for understanding new immersive technologies. At the same time, Finland’s strategy emphasizes national values such as international cooperation. Finland’s geopolitical position was cleverly used to balance the diverse interests of global players. Finland hopes to gain a competitive advantage by building on its strong existing foundation in extended reality, telecommunications, and other pivotal metaverse technologies such as AI, fintech, gaming, and software applications.
Building an eco-friendly and welcoming Metaverse ecosystem
Looking ahead to 2035, Finland plans to generate more than €30 billion in annual revenue through its thriving metaverse industry. This is fully aligned with the UN’s Sustainable Development Goals, improving sustainability, well-being and social inclusion. Finland aims to form a dynamic and diverse Metaverse ecosystem that prioritizes standardization, regulation, cybersecurity and education to ensure inclusivity and broad accessibility.
Finland’s Metaverse strategy also emphasizes a firm commitment to protecting digital rights and ethics and placing utmost importance on user privacy, security and independence. The ‘Metaverse Action Program’ emphasizes the value of educating the general public about the Metaverse. Proposals include providing access to community hubs and libraries and leveraging Finland’s strong education infrastructure. The metaverse is seen by many as a path to improving healthcare and enabling remote work, as well as a tool for advancing collaborative robotics, AI initiatives and other applications.