July 5, 2022
The Ministry of Economy, Trade and Industry will investigate, review, discuss, and conduct trials on how to construct and expand Web 3.0 creator economies, which will exist as part of Web 3.0 and the metaverse.
As the internet space has evolved into what is known as “Web 3.0,” new business models are starting to emerge: businesses have appeared that deal in Non-Fungible Token (NFT) and virtual events are being hosted in the metaverse space.
Understanding that the creators producing the content and virtual spaces for these NFT and metaverse-space businesses are indispensable, constructing a creator economy (economic zone) that can gain from that value is essential to developing fields related to Web 3.0 and the metaverse.
While we hope to construct and popularize this creator economy, however, the current legal framework in Japan for such issues is vague, and current market conditions in the other countries that NFT businesses are expanding into are also unclear. Additionally, to expand the base of this creator economy, we must clarify the issues that ordinary users would face when entering the various fields within it.
Thus, this research project will (1) investigate and review the legal issues in question, (2) investigate overseas cases, and (3) hold study group discussions regarding Web 3.0 and the metaverse, primarily from a creator’s perspective. METI will establish the Metaverse Trial Space in order to review each issue in question.
We hope to convince various actors to join these fields via this project and, as a result, construct and expand a vibrant creator economy.
Investigation and analysis results are scheduled to be released once this project is finished.