Zuckerberg's initial push toward building the metaverse also sent other businesses, such as banks, fashion outlets, and even celebrities, into the rush to secure their virtual addresses in this brand-new world.went through the roof around this period, which coincided with the pandemic years that saw a push toward digital lives.
Two years later, though, the world is returning to the pre-pandemic normal, and there isn't much talk about the metaverse. According to Vestager, it is not an area that needs to be regulated.Digital technology has given us multiple products or services that call for greater regulation.
The rapid roll-out of artificial intelligence models earlier this year also drew much attention. Still, as happens with technology, the waves die down after making a large splash but little impact on ground realities. Metaverse, too, went through a similar cycle, where businesses were keen to ensure that remained occupied a prominent place in this new world and remained relevant. But it is now in a phase where there aren't concerns about any company dominating the market.