Is metaverse just a new and fashionable word or is a new challenge for competition policy? This brief contribution will focus on the main competition issues which will be raised in the near future by the development of metaverses and will try to discuss if the theoretical tool-kit at disposal of the competition authorities is still appropriate and self-sufficient. Most of the challenges Competition Authorities will have to deal with seem to be quite similar to those they are facing with digital platforms. The author does not question the need for a “more economic approach” but such an approach should not be focused solely (and ideologically) on static efficiency. It should not ignore economic freedom, market structure and dynamic efficiency. On the contrary, the temptation of a per se regulation might be at the same time too ambitious and quite risky.