The World Economic Forum is a body of individuals with great political and economic power. Founded back in the 90s by a group of European entrepreneurs they have managed to influence worldwide policies. They set out to push the advancements of many contemporary industries regulating them as they come and attempt to lend their hand in their development.
As the Metaverse has received mixed emotions from the general public, the World Economic have indicated a keen interest in the Metaverse, Crypto Games and other web3 related talking points.
Many associate the metaverse with Facebook’s parent company Meta, which spurred the bad reception. As a governing body the World Economic Forum is looking to change perceptions and bring a new level of understanding to Metaverse. Let’s look further into The World Economic Forum and their relationship with all things Web3!
Image Credit | World Economic Forum
On the surface…
Currently on the official World Economic Forum they have a section dedicated to the advancement and education of the Metaverse. Their listed mission statement quotes they are actioning “leading voices from the private sector, civil society, academia, and policy to define the parameters of an economically viable, accessible, and inclusive metaverse.”
The designated Metaverse page has many different articles covering Web3 related topics and updates. They show the advancements of technology used, thoughts and predictions and how they as an entity are going to contribute to the Web3 paradigm.
Many associate the World Economic Forum with older men, many of which made their wealth in more traditional industries many years previous. Having an interest in the metaverse may be a good thing, however their control over worldwide governments may go against the initial notions that the Metaverse and Web3 utilizes decentralized technologies and fundamentals.
There are also opportunities via their site to contribute to the progression of the Metaverse directly. You can do so by “Becoming a partner” (larger organizations) and “Join our digital community”. Be sure to check out these pages to learn more about WEF and their pledge to Web3.
Notable entries from World Economic Forum
The World Economic Forum’s site has made some very interesting article entries over the past 12 months. Many have a negative opinion on the Metaverse and Web3, however their articles touch on interesting topics some of which you may not consider to be associated with Web3 at first.
“5 ways the metaverse could be revolutionary for people with disabilities”
Enabling an easier life for those with disabilities is always being revolutionized as we have seen through the adaptation in sports, education and every day activities. After all, people with disabilities need to be adapted into society like every other person.
It is important that as time and technologies go on, the need for the inclusion of disabled people around the world are also considered.
- Social Life
- Education
- Work
- Leisure & Entertainment
- Healthcare & Wellbeing
These 5 headers are important to all lives therefore advancing them through the Metaverse for disabled individuals. Drawing attention to the medical aspects of the Metaverse will paint it in a new light to those who have doubted it.
Image Credit | World Economic Forum
“Blockchain gaming under the microscope part 4: what lies ahead”
This 4 part article series on Blockchain list gaming is a great concluding entry. The previous 3 articles touch upon some of the concepts, headlines and statistics we have touched upon. However, this article gives a great insight into what is to come.
Whilst no one can predict the future accurately The World Economic forum’s analyst can offer somewhat of a grounded analysis on what is to come. Touching upon the following:
Regulation
Headlines in the past and more recently show there are still the need for regulation from authorities.
Talent Migration
Companies are still small in size compared to Web2 companies. The coming months may see a change in workforce due to the potential Web3 has.
Distribution
Popular platforms and brands are becoming more accepting of Web3 technologies in their products and services. Seen through Epic Games, Amazon Games and soon to be Apple.
Infrastructure
Wallets are what keep Web3 afloat as users store their assets here. Wallets are not user friendly and have boundaries to accessibility.
Gaming Model
It is clear many crypto games have unsustainable models that they have adopted. Switching from the current model to Free-To-Own will give projects more longevity and reason to engage.
“How could the metaverse impact education?”
Education? No one would have put the Metaverse and education into the same sentence a few months back. However the same would have been said during the developing years of the original Internet, so it’s best to keep an open mind.
The futuristic features of Web3, specifically Virtual Reality (VR) give education a new immersive experience for children and adults alike. Humans are constantly looking for the next best thing and with how the education system in developed nations has changed over the years, it comes as no surprise that the Metaverse land is tagging along for the ride.
Technology has only ever bridged the gap between humans all around the world, no matter their race or racial background. Implementing Web3 technologies into educational practice opens up new doors for learning, further democratizing it in the process.
As we go into 2023 it will be interesting to see how the World Economic develops their Metaverse pages on their site. Whilst many are still unsure of the WEF’s intentions, their input already has been beneficial for the Web3 space offering new outlooks and insights.
