A vision of the metaverse is taking shape, spurred by investment by leading companies in the media and technology industries. Some experts believe that the internet will eventually evolve into the metaverse, which will come to represent the next major computing platform.

Central to the concept of the metaverse is the idea that virtual, 3D environments that are accessible and interactive in real time will become the transformative medium for social and business engagement. If they are to become practical, these environments will be dependent on widespread adoption of extended reality (XR), the combination of augmented, virtual and mixed reality.

The metaverse is expected to have a strong connection with the real-world economy, eventually becoming an extension of it. Many argue that this can be achieved with blockchain applications, which allow ownership of digital assets to become commonplace – and, critically, to be trusted. A successful vision of the metaverse is one that sees these technologies coming together in an integrated, interoperable and inclusive way. This could transform consumer experiences and business models across industries.

The World Economic Forum is bringing together leading voices from the private sector, civil society, academia and policy to define and build the metaverse, with focus on two areas: governance of the metaverse, and value creation in the metaverse.