Web3 is an opportunity and a requirement: France’s Macron

Web3 is an opportunity and a requirement: France's Macron

The French president said in an interview that French cultural institutions need to develop NFT policies and support Web3 innovation.

French President Emmanuel Macron is seeking to defeat far-right leader Marine Le Pen in this year’s second round of elections, arguing that Web3 and virtual worlds are cultural and creative The promotion of content offers huge opportunities.

Web3 presents ‘demands and opportunities’

In an interview with local media, Macron highlighted the potential benefits of the digital revolution, including the role of the metaverse in shaping cultural policy.

“The metaverse has enormous potential for culture and leisure due to its applications in music, concerts, art exhibitions, etc. Without this revolution, we cannot think about our cultural policies,” he noted.


He added that France has a unique opportunity to allow its way of life – language, heritage, monuments and cities – to exist in the metaverse. Putting these in the metaverse would create a “digital historiography” of French collective history, he said.

According to him, it is very important for major French cultural institutions to develop an NFT policy that helps to promote and protect players in the field.

Overall, Macron said Web3 “represents a requirement and an opportunity not to be missed.” If France and Europe want to be leaders in the future of the web, it should seize this opportunity.

About MiCA Regulations

The French president made the remarks a few weeks ago after the European Parliament voted on restrictive crypto-asset market (MiCA) regulations. EU lawmakers passed the regulation in March, which was introduced in 2020 to cover crypto assets not covered by existing financial regulations.

Commenting on the move, Macron noted that while France supports innovation, regulations are crucial because they bring about “uniformity of rules”. He noted that this would provide Europe with the foundation needed to “create a single market.”

“I am in favour of rapid progress in MiCA regulation, inspired by the balanced approach advocated by the Commission and the French framework,” he said.

The French leader also reiterated his belief that the regulation will not harm innovation.

“France will pay close attention that the text does not hinder innovation and is as neutral as possible in terms of technology,” he told French media.

According to him, the success of Ledger and Sorare, two leading French fintech startups, is a clear signal of this intention.

In other remarks, Macron said he wanted to see Europe take the lead in the revolution in the digital age. He would like to see Europe not relying on the US and China in this regard.

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