A study conducted by the Policy Department for Citizens’ Rights and Constitutional Affairs of the European Parliament focused on analyzing the various applications of the metaverse in commercial, industrial, and military contexts. The report examined both the potential benefits and notable concerns related to everyday life, health, work, and security. Furthermore, the study provided recommendations for potential legislation that would uphold fundamental principles of law, while also emphasizing the importance of legislative and judicial oversight across multiple policy areas. The report covered the usually discussed aspects of opportunities and challenges and also the ethical and legal difficulties to be faced in the near future.