The metaverse is considered to be the future of the internet, which will build upon new technologies such as blockchain, artificial intelligence, and extended reality. Because of these new technologies, to realize two shifts: from information interconnection to value interconnection, and from user-generated content to AI-generated content. These shifts offer new possibilities for building entirely new business models of knowledge economy in the metaverse, but also bring new governance issues and legal challenges, calling for innovation in rules.