Recently, LSE Consulting from the London School of Economics and Political Science released a report outlining a strategy for Europe to excel in the emerging Web 4.0 sector. The report suggests creating an industrial conglomerate similar to Airbus dedicated to driving innovation and growth in the metaverse as a way for the EU to compete globally and leverage Europe's technological and economic strengths.

Airbus, an established multinational corporation formed through a merger of French, German, and Spanish aerospace companies in 2000, is now a leading manufacturer of aircraft and helicopters worldwide. The relevance of Airbus to the metaverse, as highlighted by LSE Consulting, lies in its cross-border operations and focus on maintaining Europe's dominance in the aerospace industry.

By adopting an Airbus-like model for the metaverse, the EU could potentially establish itself at the forefront of Web 4.0 technology. The report emphasizes the need for a dedicated industrial cluster to enhance specialized internet engineering expertise in Europe and attract talent to engineering and research programs.

LSE Consulting draws on success stories from various European companies in the metaverse sector, such as BMW, Ikea, Bosch Sensortec GmbH, Ericsson, and STMicroelectronics, to suggest three key recommendations for advancing the industry in Europe. These recommendations include forming an international conglomerate for metaverse innovation, providing training to equip the workforce with necessary skills, and encouraging governments to support innovative solutions to new challenges and standards.

Michael Barngrover, Managing Director at XR4Europe, acknowledges the potential pathways for the continent and highlights the importance of LSE's research findings in guiding future discussions around Europe's role in the evolving metaverse landscape.