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Near-term and long-term implications for people in the metaverse

Abstract
Given that the industry has not yet converged on a precise understanding of what is commonly referred to as the "metaverse", there is general confusion between definitions of this term based on Facebook's transformation to Meta in 2021 and definitions that evolved from the concept that was popularized by Neal Stephenson's novel, Snow Crash, in 1992. This has led to conflicting declarations of the metaverse as being both in its nascent phase and already dead. Nevertheless, as the world becomes increasingly digital, the metaverse (no matter the definition ascribed to it) is emerging as a new frontier of social and economic interaction; allowing people to create, connect, and collaborate in ways that were previously thought impossible. The promise of a post-COVID-19 metaverse is rapid acceleration of an already super-charged global digital transformation with the potential to transform our lives, livelihoods, and interactions, in the near-term and long-term, in ways that cannot be overstated. Neither can our lack of clarity around the implications. This Technical Report explores the near-term and long-term implications for people in the metaverse as a framework for understanding potential impacts and a guide for maximizing the benefits and minimizing associated risks.
Supplementary Normative References
none, will be completed
Domains
Governance
Maturities
published
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