Non-Fungible Tokens (NFTs) and virtual worlds (often referred to as the metaverse) are at the core of future Internet. With increasing investments in these technologies, the growth of this expanding sector has drawn new developments in the global economy, such as decentralised finance (DeFi) or personalized health. Being more than just a parallel reality made of virtual spaces, the metaverse shows its capacity to shape the real world and has raised interest at policy and scholarly levels. In the European Union and the U.S., the debate focuses on potential risks for the public, from the processing of personal data by companies, to social and health implications, along with market distortions and the protection of fundamental rights.