The metaverse is projected to amass a staggering value of $1 trillion over the next three years, indicating rapid adoption and acceleration through technologies such as generative AI.
This report is published under the Defining and Building the Metaverse Initiative, whose goal is to bring together major stakeholders from academia, civil society, government and business to advance consensus and create a metaverse that is economically viable, interoperable, safe, equitable and inclusive. The initiative is divided into two workstreams: governance and economic and social value creation.
In this report, the social value creation workstream presents a holistic understanding of the implications of metaverse adoption on individuals, across the dimensions of access and adoption, psychological and physical well-being, DEI, sustainability and economic empowerment. It encourages an international dialogue for strategic development and regulatory guidance.
An accompanying release from the governance workstream focuses on metaverse privacy and safety, striving for a metaverse rooted in human-first principles.
Achieving an economically viable, equitable and socially conscious metaverse requires careful consideration of human rights, equality and sustainability. By incorporating these values into the design and development of the metaverse, we can create a digital realm that empowers all individuals, ensures equal opportunities, embraces diversity and safeguards the well-being of its users.