Aranya Nath & Srabani Behera
Since the development of the Internet in the 1990s till date, there has been considerable progress in the virtual environment. The Internet has opined ways for users to use cyberspace through social “media platforms” and has brought digital transformation from cell phones to Smartphones and Artificial Intelligence. The Metaverse is a step ahead of the internet age to create a virtual reality for the user within their physical world and will continue to transform how the virtual world is perceived. It will change how a current business conducts, and the experiences shared between users and companies, creating a distinct and thin line between the physical and virtual life. The development of Metaverse and the creation of virtual reality will impose on companies the need to extract more resources to have a first-mover advantage. It might create an artificial entry barrier and impact various industries. The question arises, will the current regulation be sufficient to deal with the hinge that the Virtual space will impose and make it accessible to more users and industries? Will the Metaverse create a virtual artificial market with only a few players entering and accessing the market as a cartel? What will be the impact of abusive dominance in the Metaverse world in the coming years? The biggest question that will impose is the use of data by the owners of Metaverse, making the entry or expansion of competitors more difficult. The whole Research examines and discusses the regulatory transformation that the Metaverse will lead to in various countries, how will it impact the competition in multiple industries and regulatory reforms about the data accessed by the metaverse data users.
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