It can be regarded as a historic step towards the legalization of Metaverse. The island nation of Barbados is preparing to legally declare the sovereign land of digital real estate by establishing the Embassy of Metaverse.
The Barbadian Ministry of Foreign Affairs and Foreign Trade signed an agreement on Sunday with Decentraland, among the largest and most popular crypto-powered digital worlds, for the establishment of a digital embassy. Per a press release provided to CoinDesk, the government is also finalizing agreements with “Somnium Space, SuperWorld and other Metaverse platforms.”
Various projects will assist in the identification and purchase of land, the construction of virtual embassies and consulates, the development of facilities that provide services such as “electronic visas”, and the construction of “transporters” that allow users to transfer their avatars between different worlds.
In an interview with CoinDesk, Barbados’ ambassador to the United Arab Emirates, H.E. Gabriel Abed, said the country intends to expand aggressively beyond this initial effort to build structures and purchase digital land in a variety of virtual worlds.
“The idea is not to pick a winner – the metaverse is still very young and new, and we want to make sure what we build is transferable across the metaworlds,” he said.
In addition to leading the country’s Metaverse diplomatic efforts, Abed is currently working to establish the first physical embassy in Barbados in the Middle East. He said the Barbados government, which the Cabinet approved the Metaverse embassy in August, sees the move as a unique diplomatic opportunity.
“This is how Barbados is currently expanding its diplomatic mission beyond 18 in more than 190 countries around the world. It allows us to use technology diplomacy to open the door, which is cultural diplomacy, In other words, it extends to the trade of art, music and culture. ”
With the tentative release of the embassy in January, Barbados will become the first country in the world to recognize a digital sovereign state. The Ministry of Foreign Affairs, the Ministry of Science and Technology, and many other government agencies have considered plans “several, several months,” Abed said.
The country also held legal counsel as the embassy set many unique precedents. So far, experts have stated that the embassy is subject to international law and the Vienna Convention.
Barbados is among the friendliest countries in the world for cryptocurrencies and has been among those leading the charge on the development of a central bank digital currency.
Abed also hinted that the embassies will be a launchpad for what could be more ambitious economic plans in the virtual worlds.
“Embassies are the starting point to getting a visa to enter a country or visa-free travel. Can you imagine what that would look like virtually? And where that e-visa could lead you?” he asked.