Unleashing Potential: Web 3 and Metaverse Insights

MetaversePlanet July 21, 2022

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French President Emmanuel Macron, in a recent interview, advocated for the development of a comprehensive NFT (Non-Fungible Token) policy by France’s cultural institutions. He emphasized the importance of supporting Web3 innovation, expressing the view that the metaverse and Web3 technologies could play a significant role in advancing and promoting cultural and creative content.

Macron’s endorsement of NFTs and Web3 reflects a recognition of the transformative potential these technologies hold in the cultural landscape. The call for a specific NFT policy suggests a proactive approach by France in adapting to the changing dynamics of the digital era, particularly in the realm of cultural expression and innovation.

By acknowledging the role of the metaverse and Web3 in cultural promotion, Macron signals an awareness of the evolving digital landscape and the need for strategic engagement to ensure France remains at the forefront of technological and cultural advancements.

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“Web3 is a necessity as well as a potential”

In an interview with the local media outlet Big Whale, President Emmanuel Macron highlighted the transformative potential of the metaverse and its applicability in shaping cultural policies. Describing the ongoing digital developments as a revolution, he underscored the myriad benefits that could arise from embracing this technological shift.

According to Macron, the metaverse holds tremendous potential for cultural and entertainment realms, particularly in events like music, concerts, and art exhibitions. He emphasized the importance of integrating these digital advancements into the formulation of cultural policies, recognizing the necessity to adapt to the ongoing revolution.

The French President noted that France’s cultural richness, encompassing language, monuments, and cities, presents a unique opportunity to create a distinctive lifestyle within the metaverse. Macron referred to the transfer of this cultural wealth to virtual universes as a way of “writing the digital history” of France.

Moreover, Macron highlighted the imperative role of leading cultural organizations in France, stating that they are essential in establishing NFT policies and providing support and protection for participants in this evolving digital landscape. He acknowledged the significance of Web3, stating that it not only holds immense potential but is also a necessity that should not be overlooked. This statement reflects Macron’s commitment to leveraging and adapting to emerging technologies to ensure cultural relevance and advancement.

He also touched on the controversial MiCA regulation

Macron also addressed the contentious issue of the European Union’s Markets in Digital Assets (MiCA) regulation, which gained attention, especially due to the proposed ban on Proof of Work (PoW) that was subsequently lifted. Macron expressed his support for these regulations, emphasizing their importance in ensuring stability within the digital asset space. He highlighted that such regulations would serve as a foundational framework for establishing an integrated market across Europe. The French leader reiterated his belief that these rules would not impede the progress of individual nations in the digital realm.

In addition to endorsing regulatory measures, Macron commended the success of two French crypto companies, Ledger and Sorare, underscoring their achievements in the rapidly evolving cryptocurrency and blockchain industry.

Concluding his remarks, Macron articulated his vision for Europe to assume a leadership role in the ongoing digital revolution. He stressed the importance of Europe acting independently of the United States and China in this context, reflecting a desire for the continent to carve out its distinctive path and influence in the digital landscape. This ambition aligns with Macron’s broader vision for Europe to be at the forefront of technological advancements and digital innovation on the global stage.