Turkey’s President Directs Metaverse Research

President Erdoan has directed AK Party officials to investigate and evaluate the Metaverse phenomena. Millions of dollars have already been spent by investors on acquiring Turkish virtual land on the Metaverse. Under Erdoan’s administration, Turkey has not had a track record of being a crypto-friendly state.

Turkey’s President Recep Tayyip Erdoan has directed his governing Justice and Development Party (AK Parti in Turkish) to do study on the increasing value of blockchain technology, notably Metaverse applications.

President Erdoan stated that the research should address other critical topics such as cryptocurrency and social media, and he suggested that an online forum be formed in which he would participate. Concerning the Metaverse, the president urged AKP officials:

“This is a delicate matter that should be thoroughly investigated.”

On Monday, January 17th, Turkey’s ruling party, the AK Party, had its inaugural meeting in the Metaverse.

AK Party Information and Communication Technologies President Ömer İleri presided over the meeting, which was attended by AK Party Group Deputy Chairs Mustafa Elitaş and Mahir Ünal, who informed the state-run AA news agency (Anadolu Agency) that crypto assets require both financial and legal oversight. A synopsis of the meeting may be found here.

During the ceremony, Ileri issued the following statement:

“As blockchain technology has enabled digital ownership, Turkey has accelerated its Metaverse efforts. The Metaverse is open to development in virtual reality, product management and innovative business models.”

He also stated that AKP wishes to pave the path for the creation of a Metaverse ecosystem.

The Metaverse is becoming increasingly popular in Turkey. OVR, a decentralized infrastructure program for the Metaverse that promises to integrate the actual and virtual worlds through Augmented Reality, recently sold over 11,000 virtual acres in Istanbul.

While the Turkish government has taken steps to build and evaluate a central bank digital currency, President Erdoan is renowned for his fierce opposition to cryptocurrencies. In a public Q&A session last year, he declared “war” on cryptocurrency, declaring, “We have absolutely no intention of embracing cryptocurrencies.”

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