How real will the metaverse be? Exploring the spatial impact of virtual worlds

In this paper, we perform a preliminary analysis of the technologies, firms and industries that may be affected by the possible futures of the metaverse, attempting to derive some hypotheses on the spatial effects of this process. We distinguish between two possible evolutive scenarios - the 'metaverse shaped by reality view' and the 'metaverse shaping reality view' - and factors affecting them, deriving implications for public policy planning. The first scenario presents relatively traditional core policy challenges: ensuring homogeneous availability of network infrastructures as well as the skills indispensable to catch the new technological opportunities at the local level, accompanying the reallocation of factors of production associated to disruption and addressing inequalities. In the second, the main challenge is more radical: to ensure that desirable features are incorporated in the emerging virtual worlds from the start.