What are virtual worlds? For the purposes of this article, we assume that it is currently unknown what virtual worlds will look like. The definition of the metaverse, virtual world, or whatever we should call it – and what it will come to be – will likely depend on whose narrative or narratives are being pushed most forcefully, with some narratives already having failed the test of time. Nonetheless, one thing is certain: virtual worlds, supported by increasingly powerful AI systems, bear the potential to pervade human lives at a level hitherto unknown. It is therefore crucial that regulators not simply approach virtual worlds as another market or industry to be regulated. They should take an active part in the shaping of virtual worlds and not leave this process predominantly in the hands of private entities, especially given the difficulty of implementing structural regulation once the industry has matured.