The next era of the internet is coming. The metaverse is an immersive, interoperable and synchronous digital world that will change how we interact, work and play.

In May 2022, the World Economic Forum launched 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.

The governance track has produced its first report in the series titled Interoperability in the Metaverse, with key messages on the opportunities and challenges of metaverse interoperability. This paper, written by the World Economic Forum in collaboration with Accenture, will concentrate on providing topical guidance that will empower stakeholders to lead responsibly within the metaverse while mitigating potential socioeconomic harms.

The World Economic Forum has assembled a global, multi-sector working group of over 150 experts to co-design and guide this initiative. The hope is that this will lead to cross-sector global cooperation and the creation of a human-first metaverse. The metaverse has the potential to be a game-changer, but it must be developed in a way that is inclusive, equitable and safe for everyone.