A ring is von Neumann regular in case for every $x\in R$ there is $y\in R$ such that $x=xyx$. Von Neumann regular rings appear frequently as global localizations of rings. Examples are the total quotient ring of a commutative domain, the classical ring of quotients of a semiprime Goldie ring, the ring of affiliated operators of a finite von Neumann algebra (which is an Ore localization), the maximal ring of quotients of a nonsingular ring. In a joint work with Miquel Brustenga, we show that, given a quiver $E$, there is a suitable universal localization of the path algebra of the quiver which is a von Neumann regular ring. We compute the structure of the finitely generated projective modules of the von Neumann regular rings arising from this construction.