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Europe is advocating for the development of open, inclusive and ethical virtual worlds that emphasise the technological sovereignty of the EU industry. This vision aims to deliver benefits such as enhanced accessibility, increased freedom and control, reduced entry barriers and a more equitable distribution of resources. Furthermore, it places a premium on interoperability, privacy, security and data ownership to promote innovation, creativity and social benefits. The EU-funded OPENVERSE project is dedicated to creating a knowledge base on European virtual worlds. To that end, it will establish a community of stakeholders, test user co-creation and extended reality, explore challenges, and generate standards, technology roadmaps and recommendations. These outputs are intended to guide the future establishment of the Open Virtual Worlds concept in Europe and globally.