In an ambitious move, Finland has set its sights on becoming a global frontrunner in the dynamic realm of the Metaverse by the year 2035, as outlined in a recently unveiled document. With projections indicating the potential to generate €30 billion in annual revenue by that time, the country is strategically positioning itself at the forefront of Metaverse innovation.
The comprehensive strategy, titled “Metaverse Initiative by the Finnish Ecosystem: Virtual Potential into Real-World Impact,” underscores Finland’s commitment to leveraging cutting-edge Metaverse technologies. These include artificial intelligence (AI), financial technology (fintech), software applications, and gaming. The objective is to establish Finland as the first European Union member to lead the way in the rapidly expanding Metaverse landscape.
Business Potential and Economic Impact:
Finland recognizes the substantial business potential within the Metaverse, anticipating the growth of innovation and the creation of new revenue streams across various sectors such as gaming, advertising, and e-commerce. This strategic focus is poised to drive economic growth, presenting new job opportunities and fostering an environment conducive to technological advancements.
By cleverly blurring the lines between tangible and virtual experiences, Finland’s Metaverse ecosystem aims to create monetization and marketing opportunities. The country is actively striving to position itself ahead of other global players, including Japan, China, the UK, and the UAE. Notably, the UAE has committed to generating 40,000 virtual jobs through its own Metaverse strategy, highlighting the competitive landscape.
Inclusive and Sustainable Development:
Aligned with the United Nations’ sustainable development goals, Finland is pursuing international progress with a strong emphasis on inclusivity, diversity, sustainability, standardization, regulation, cybersecurity, and education. The nation’s commitment to these guiding principles aligns with the global community’s collective efforts to ensure that Metaverse technologies are accessible to all while being safeguarded.
Finland’s proactive approach extends to the establishment of robust regulatory frameworks and standardization. Recognizing the importance of responsible utilization and development of Metaverse technologies, the country is dedicated to creating clear, comprehensive guidelines and rules. This framework is designed to enhance innovation while providing protection against potential risks associated with the evolving Metaverse landscape.
Through these strategic initiatives and guiding principles, Finland is positioning itself as a Metaverse frontrunner, demonstrating a commitment to sustainable and inclusive technological development in the years to come.
