SlideShare a Scribd company logo
1 of 13
Download to read offline
Utpal Chakraborty
CUSTOM MAP
Metaverse
Ecosystem
Insight Briefing
Utpal Chakraborty
Metaverse Ecosystem
ABOUT
This insight briefing draws on the collective intelligence of the
Forum network to explore the key trends, interconnections and
inter-dependencies between industry, regional and global issues.
In the briefing, you will find a visual representation of this topic
(Transformation Map – interactive version available online via
intelligence.weforum.org), an overview and the key trends
affecting it, along with summaries and links to the latest research
and analysis on each of the trends. The content is continuously
updated with the latest thinking of leaders and experts from
across the Forum network, and with insights from Forum
meetings, projects communities and activities.
Metaverse Ecosystem
SUMMARY
Metaverse Market size was valued at USD 27.21 Billion in 2020
and is projected to reach USD 824.53 Billion by 2030, growing at
a CAGR of 39.1% from 2022 to 2030.
Some of the high level Layers of Metaverse Ecosystem are -
Experience layer, Discovery layer, Creator economy, Spatial
computing layer, Decentralization layer, Human interface layer,
Infrastructure layer etc.
KEY ISSUES
1. Foundational Elements of the Metaverse
This virtual world will rely on real technologies and emerging behavioural patterns
2. Working in the Metaverse
It could help us collaborate and learn, and it could also fundamentally reshape work
in unsettling ways
3. Entertainment and Commerce in the Metaverse
From media consumption to sporting events and NFTs, buying and selling things
may become a lot more virtual
4. Smart Contracts and Automation
Blockchain has the potential to change everything from production to lifestyles
5. Blockchain, Security and Interoperability
The technology’s unique aspects and vulnerabilities must be considered during the
design process
6. Decentralized Governance and New Models
The distributed nature of blockchain can facilitate new ways of doing business
7. Setting Rules for the Metaverse
Establishing a safe, welcoming environment will be essential for expansion
8. Gaming and the Metaverse
Games are widely viewed as the most likely entry point for many people
Metaverse Ecosystem
SUMMARY
Metaverse Market size was valued at USD 27.21 Billion in 2020
and is projected to reach USD 824.53 Billion by 2030, growing at
a CAGR of 39.1% from 2022 to 2030.
Some of the high level Layers of Metaverse Ecosystem are -
Experience layer, Discovery layer, Creator economy, Spatial
computing layer, Decentralization layer, Human interface layer,
Infrastructure layer etc.
KEY ISSUES
9. Origins of the Metaverse
The concept may seem new, but it has been under construction for decades
Metaverse Ecosystem
1. FOUNDATIONAL ELEMENTS
OF THE METAVERSE
This virtual world will rely on real technologies and
emerging behavioural patterns
Ultimately, there will be no metaverse without the chips and
software required to power it. After Meta, the parent company of
Facebook, announced plans in late 2021 to move aggressively
into developing virtual reality and the metaverse, shares of
chipmaker Nvidia hit record highs. Nvidia designs chips and
graphics cards that generate high-resolution, 3-D images, as well
as software that can be used to design virtual worlds. Other
pieces of hardware required for participating in the metaverse
include controllers that register hand and finger movements to
interact in a virtual environment, and headsets. Some headsets
currently available can cost thousands of dollars, though many
are available for a few hundred dollars. According to an estimate
published by eMarketer, the number of virtual-reality headsets in
use globally should increase from 35 million in 2022 to 70 million
by 2026.
RELATED TOPICS
1. Internet Governance [View Map]
Users are ripe for exploitation by the internet’s dominant business model of targeted
advertising - and protection from this asymmetry must become an internet
governance priority.
2. Behavioural Sciences [View Map]
The behavioural sciences are a powerful tool that can be wielded to engender
responsible decision-making and improve the quality of life.
3. Cybersecurity [View Map]
The digital world connects everything and everyone to apps, data, purchases,
services, and communication.
4. Data Policy [View Map]
Data has untapped potential to help address gender disparities, track deforestation,
detect plastic pollution, and boost agricultural yields.
5. Virtual and Augmented Reality [View Map]
Virtual reality was first imagined in science fiction, and emerged in real life via an
immersive film-viewing cabinet created in the 1950s.
Metaverse Ecosystem
2. WORKING IN THE
METAVERSE
It could help us collaborate and learn, and it could also
fundamentally reshape work in unsettling ways
COVID-19 has already made many people a lot more comfortable
with the concept of virtual meetings and interaction with
colleagues than they have ever been before. A fully-functional
metaverse could mean that even in non-pandemic times, virtual
work will become much more the norm - with colleagues sitting
beside you at “meetings” in avatar form rather than in windows on
a screen (though for some that is a less-than-welcome concept).
Meta (previously Facebook) had reportedly been using its Horizon
Workrooms virtual-reality tool for internal collaboration prior to the
company’s announcement in 2021 that it would invest heavily in
the metaverse. Professional training could also take on new
dimensions.
RELATED TOPICS
1. Workforce and Employment [View Map]
The world of work is changing fast - and mapping out healthy new work models is
necessary to channel that change into the creation of stronger labour markets and
sufficient safeguards.
2. Mental Health [View Map]
The cost of mental health conditions (and related consequences) is projected to rise
to $6 trillion globally by 2030, from$2.5 trillionin2010, according to a study published
by the World Economic Forum and the Harvard School of Public Health.
3. Corporate Governance [View Map]
Corporate governance should ensure decision-making in the best interests of all
stakeholders - including customers, employees, regulators, local communities, and
shareholders.
4. Cybersecurity [View Map]
The digital world connects everything and everyone to apps, data, purchases,
services, and communication.
5. Education, Skills and Learning [View Map]
Technological innovation is fundamentally transforming education, and updating the
skills required for modern work.
Metaverse Ecosystem
3. ENTERTAINMENT AND
COMMERCE IN THE
METAVERSE
From media consumption to sporting events and NFTs,
buying and selling things may become a lot more
virtual
In the US, the National Basketball Association has been offering
virtual courtside seats accessible via headset. One reporter
described the experience at a game as being very authentic,
though he spent a good amount of time helping another avatar in
the virtual audience deal with what seemed like a bad connection.
As businesses including entertainment companies scope out new
ways of drawing audiences and making money in the metaverse,
many such experimental virtual-reality forays are likely to
proliferate.
RELATED TOPICS
1. Virtual and Augmented Reality [View Map]
Virtual reality was first imagined in science fiction, and emerged in real life via an
immersive film-viewing cabinet created in the 1950s.
2. Future of Consumption [View Map]
By the year 2027, annual consumption in China is expected to reach $8.2 trillion, or
nearly twice what it had been just a decade earlier. In India, annual consumer
spending is expected to rise even more dramatically, from about $1.5 trillion
currently to $6 trillion by 2030.
3. Blockchain [View Map]
Blockchain can enable greater trust and transparency through decentralization,
cryptography, and the creation of new incentives. Best-known as the digital
underpinning of Bitcoin, it has evolved into a foundational technology with promise in
many areas.
4. Innovation [View Map]
Innovation is the process of turning new ideas into value, in the form of products,
services, business models, and other new ways of doing things. It is complex and
goes beyond mere creativity and invention to include the practical steps necessary
for facilitating adoption.
5. Retail, Consumer Goods and Lifestyle [View Map]
The 21st century consumer landscape is remarkably different from its 20th century
predecessor - not least due to a pandemic that decimated retail sales in many
places in early 2020. Material goods sitting in stores once defined the market, but
people now expect more.
Metaverse Ecosystem
4. SMART CONTRACTS AND
AUTOMATION
Blockchain has the potential to change everything from
production to lifestyles
“Smart” contracts are blockchain technology-based and self-
executing. That means that they have conditions embedded within
their underlying code - formulated as ‘if X happens trigger Y,’ for
example - which makes the resulting interactions immutable and
censorship-resistant, some of the primary characteristics that
have helped to make blockchain distinct and desirable. This ability
to automate has shown particular promise in a variety of areas,
from the functioning of supply chains to providing insurance.
When combined with Internet of Things (IoT) devices, for
example, self-executing contracts can facilitate the automation of
tasks that were previously manual, such as receiving a series of
necessary signatures and verifications.
RELATED TOPICS
1. Artificial Intelligence [View Map]
Artificial Intelligence is rife with contradictions. It is a powerful tool that is also
surprisingly limited in terms of its current capabilities.
2. Insurance [View Map]
The insurance industry is faced with emerging challenges related to everything from
the repercussions of COVID-19 to worsening climate change.
3. Mobility [View Map]
Mobility is a fundamental human need, and an essential enabler of prosperity.
4. Cybersecurity [View Map]
The digital world connects everything and everyone to apps, data, purchases,
services, and communication.
5. Fourth Industrial Revolution [View Map]
The Fourth Industrial Revolution represents a fundamental change in the ways that
we live and work.
Metaverse Ecosystem
5. BLOCKCHAIN, SECURITY
AND INTEROPERABILITY
The technology’s unique aspects and vulnerabilities
must be considered during the design process
One of the major selling points of blockchain is the ability to
converge it with other core technologies of the Fourth Industrial
Revolution in creative ways. Starbucks, for example, announced
plans to develop an artificial intelligence-based demand forecast
and logistics management system called Deep Brew. The artificial
intelligence aspect of the system relies on data aggregated
through the Internet of Things from the coffee company’s
equipment and products, which can then be traced transparently
through blockchain. Many governments have begun lending
support to businesses to pursue such efforts by funding and
developing the infrastructure necessary for smart cities and smart
factories. As with most other technologies, the ultimate level of
security that is afforded by blockchain technology boils down to
decisions made during the design process.
RELATED TOPICS
1. Infrastructure [View Map]
Infrastructure is essential for economic development. It can boost health, wealth,
access to education, and public safety - and help prepare for global crises like
pandemics.
2. The Digital Transformation of Business [View Map]
COVID-19 catapulted businesses everywhere into the digital-first world. Technology
had already been reshaping industries, business models, supply chains when the
pandemic hit - as people demanded more touchless and online experiences.
3. Supply Chains [View Map]
Supply chains are the circulatory system of the global economy, providing access to
the things we need to support commerce and sustain life.
4. Cybersecurity [View Map]
The digital world connects everything and everyone to apps, data, purchases,
services, and communication.
5. Energy [View Map]
Energy consumption and production account for about two-thirds of global
greenhouse gas emissions, and 81% of the global energy mix is still based on fossil
fuels - a percentage that has not budged in decades.
Metaverse Ecosystem
6. DECENTRALIZED
GOVERNANCE AND NEW
MODELS
The distributed nature of blockchain can facilitate new
ways of doing business
In order to make the most of blockchain technology, organizations
will have to collaborate. In an acknowledgement of this fact, there
has been a proliferation of industry consortia dedicated to
blockchain exploration and implementation. These groups are
often collaborating to an unprecedented degree, even drawing
together rival businesses determined to cooperate in order to truly
unlock the full potential of technology through new governance
models. To-date, almost 400 such organizations have been
registered, with several seeming to appear every month. The
Blockchain Insurance Industry Initiative (b3i), for example, has
brought together 20 key industry players such as Allianz, Liberty
Mutual, and the China Pacific Insurance Company in order to
explore and deploy the technology in different ways.
RELATED TOPICS
1. Justice and Law [View Map]
We face considerable challenges when it comes to ensuring that the most robust
science is used in the delivery of justice, and that access to legal protections is
made available to the greatest number of people possible.
2. Workforce and Employment [View Map]
The world of work is changing fast - and mapping out healthy new work models is
necessary to channel that change into the creation of stronger labour markets and
sufficient safeguards.
3. Public Finance and Social Protection [View Map]
Many countries in both the developed and the developing worlds face serious
challenges when it comes to providing retirement security for the elderly, opportunity
for young people, and broader financial well-being for everyone.
4. Corporate Governance [View Map]
Corporate governance should ensure decision-making in the best interests of all
stakeholders - including customers, employees, regulators, local communities, and
shareholders.
5. The Digital Economy [View Map]
The disruption caused by the Fourth Industrial Revolution has been accelerated by
COVID-19, and increased our need for agility, adaptability, and positive
transformation.
Metaverse Ecosystem
7. SETTING RULES FOR THE
METAVERSE
Establishing a safe, welcoming environment will be
essential for expansion
There is some concern that the metaverse will channel the same
misogyny, misinformation, and generally shameful behaviour
rampant on the current version of the internet - albeit in a more
immersive format. In late 2021, Meta (formerly Facebook) opened
up access to its Horizon Worlds virtual-reality social platform,
widely seen as its first significant foray into what may become the
metaverse. One beta tester of the platform reported that she was
groped by another avatar, and “there were other people there who
supported this behaviour” (it was later determined that she hadn’t
made use of available safety features - though that publicized
determination drew recriminations). In February 2022 Meta
introduced a “Personal Boundary” feature for Horizon Worlds,
which prevents avatars from coming within a certain distance of
one another - as a means of more easily avoiding unwanted
interactions.
RELATED TOPICS
1. Justice and Law [View Map]
We face considerable challenges when it comes to ensuring that the most robust
science is used in the delivery of justice, and that access to legal protections is
made available to the greatest number of people possible.
2. Global Governance [View Map]
Global governance is a means to manage issues that cut across national borders -
whether it is a pandemic, a financial crisis, climate change, or a geo-economic
dispute.
3. Future of Media, Entertainment and Sport [View Map]
The world of media, entertainment, and sport has been upended by new business
models, user-generated content, and the use of digital platforms to effectively
distribute everything from streamed matches to social messages. This is having a
direct impact on the moulding of cultures and societies.
4. Agile Governance [View Map]
“Agile” governance means more than just coordinating effective, efficient, and
reliable public and private institutions to effectively manage problems - the term
implies a forward-looking approach that seeks to anticipate problems before they
materialize.
5. Leadership [View Map]
Many aspects of the ways that governments and businesses operate are in flux, due
in large part to the sweeping technology changes propelling the Fourth Industrial
Revolution. Leadership is no exception.
Metaverse Ecosystem
8. GAMING AND THE
METAVERSE
Games are widely viewed as the most likely entry point
for many people
In many ways, video games have long been delivering the same
types of experiences anticipated in the metaverse. Now, gaming
is expected to serve as a primary means for new users to delve
into this forthcoming iteration of the internet. “The Sims,” a
popular life-simulation game, was first released in 2000 - about 18
years after the author Neil Stephenson is believed to have coined
the term “metaverse” in his 1992 novel “Snow Crash.” The game
enabled players to conduct digital characters through relatively
mundane, true-to-life situations like dating, buying a home, or
finding a new job. Microsoft’s Xbox Live enabled players to
compete against each other online in 2002, and the popular game
Fortnite has people engaging their personal avatar in combat with
other avatars.
RELATED TOPICS
1. Blockchain [View Map]
Blockchain can enable greater trust and transparency through decentralization,
cryptography, and the creation of new incentives. Best-known as the digital
underpinning of Bitcoin, it has evolved into a foundational technology with promise in
many areas.
2. Financial and Monetary Systems [View Map]
The management of financial and monetary systems is intimately connected to
global risk - in the form of potential market meltdowns, spiralling inflation,
pandemics, and heightened geopolitical tension.
3. Retail, Consumer Goods and Lifestyle [View Map]
The 21st century consumer landscape is remarkably different from its 20th century
predecessor - not least due to a pandemic that decimated retail sales in many
places in early 2020. Material goods sitting in stores once defined the market, but
people now expect more.
4. Cybersecurity [View Map]
The digital world connects everything and everyone to apps, data, purchases,
services, and communication.
5. Digital Communications [View Map]
The digital communications industry is facilitating unprecedented levels of global
internet use, online social interaction, and financial inclusion. As the industry is
transformed, effective policy and regulation that support businesses could boost
productivity.
Metaverse Ecosystem
9. ORIGINS OF THE METAVERSE
The concept may seem new, but it has been under
construction for decades
The newest (potential) version of the internet actually has a
history stretching back decades - at least, in terms of conception.
The 1935 short story “Pygmalion’s Spectacles” is widely credited
with an initial description of what we now think of as virtual reality,
via the depiction of a film where “you are in the story,” which “is all
about you.” The “Sensorama Simulator,” a virtual reality machine
that enabled users to watch films in a personal viewing cabinet
meant to give them a sense they were doing things like driving a
dune buggy by deploying blowing wind, aromas, and vibrations,
was patented in the early 1960s. The machine’s inventor also
patented the first head-mounted display, a precursor to the
headsets expected to serve as a bridge between users and the
metaverse. In 1992, the science fiction writer Neal Stephenson
published the novel “Snow Crash,” which is credited with coining
the term “metaverse.”
RELATED TOPICS
1. Arts and Culture [View Map]
The arts are a fundamental element of a healthy society that helps us interpret both
the world and one another - particularly during periods when social contact might be
limited to faces on a computer screen and streaming entertainment.
2. Virtual and Augmented Reality [View Map]
Virtual reality was first imagined in science fiction, and emerged in real life via an
immersive film-viewing cabinet created in the 1950s.
3. The Digital Economy [View Map]
The disruption caused by the Fourth Industrial Revolution has been accelerated by
COVID-19, and increased our need for agility, adaptability, and positive
transformation.
4. Future of Consumption [View Map]
By the year 2027, annual consumption in China is expected to reach $8.2 trillion, or
nearly twice what it had been just a decade earlier. In India, annual consumer
spending is expected to rise even more dramatically, from about $1.5 trillion
currently to $6 trillion by 2030.
5. The Digital Transformation of Business [View Map]
COVID-19 catapulted businesses everywhere into the digital-first world. Technology
had already been reshaping industries, business models, supply chains when the
pandemic hit - as people demanded more touchless and online experiences.

More Related Content

Similar to World Economic Forum Metaverse Ecosystem By Utpal Chakraborty.pdf

Internet-of-Things_Report
Internet-of-Things_ReportInternet-of-Things_Report
Internet-of-Things_ReportOceane Rime
 
Internet-of-Things_Report
Internet-of-Things_ReportInternet-of-Things_Report
Internet-of-Things_ReportOceane Rime
 
Trends in Software Development for 2023
Trends in Software Development for 2023Trends in Software Development for 2023
Trends in Software Development for 2023XDuce Corporation
 
Trends in Software Development for 2023
Trends in Software Development for 2023Trends in Software Development for 2023
Trends in Software Development for 2023XDuce Corporation
 
Conversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital InteractionsConversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital InteractionsRahulBansal965760
 
Conversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital InteractionsConversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital InteractionsRahulBansal965760
 
Metaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdfMetaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdfyashapnt
 
Metaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdfMetaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdfyashapnt
 
Metaverse opportunities for the communications industry
 Metaverse opportunities for the communications industry Metaverse opportunities for the communications industry
Metaverse opportunities for the communications industryaccenture
 
Metaverse opportunities for the communications industry
 Metaverse opportunities for the communications industry Metaverse opportunities for the communications industry
Metaverse opportunities for the communications industryaccenture
 
A Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT TrendsA Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT TrendsTechugo
 
A Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT TrendsA Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT TrendsTechugo
 
WEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdfWEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdfLiveplex
 
WEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdfWEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdfLiveplex
 
Process oriented architecture for digital transformation 2015
Process oriented architecture for digital transformation   2015Process oriented architecture for digital transformation   2015
Process oriented architecture for digital transformation 2015Vinay Mummigatti
 
Process oriented architecture for digital transformation 2015
Process oriented architecture for digital transformation   2015Process oriented architecture for digital transformation   2015
Process oriented architecture for digital transformation 2015Vinay Mummigatti
 

Similar to World Economic Forum Metaverse Ecosystem By Utpal Chakraborty.pdf (20)

Internet-of-Things_Report
Internet-of-Things_ReportInternet-of-Things_Report
Internet-of-Things_Report
 
Internet-of-Things_Report
Internet-of-Things_ReportInternet-of-Things_Report
Internet-of-Things_Report
 
DMCC Future of Trade Web3 - Special Edition
DMCC Future of Trade Web3 - Special EditionDMCC Future of Trade Web3 - Special Edition
DMCC Future of Trade Web3 - Special Edition
 
DMCC Future of Trade Web3 - Special Edition
DMCC Future of Trade Web3 - Special EditionDMCC Future of Trade Web3 - Special Edition
DMCC Future of Trade Web3 - Special Edition
 
Trends in Software Development for 2023
Trends in Software Development for 2023Trends in Software Development for 2023
Trends in Software Development for 2023
 
Trends in Software Development for 2023
Trends in Software Development for 2023Trends in Software Development for 2023
Trends in Software Development for 2023
 
Conversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital InteractionsConversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital Interactions
 
Conversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital InteractionsConversational AI in Metaverse: The Future of Digital Interactions
Conversational AI in Metaverse: The Future of Digital Interactions
 
DMCC Future of Trade Web3
DMCC Future of Trade Web3 DMCC Future of Trade Web3
DMCC Future of Trade Web3
 
DMCC Future of Trade Web3
DMCC Future of Trade Web3 DMCC Future of Trade Web3
DMCC Future of Trade Web3
 
Metaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdfMetaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdf
 
Metaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdfMetaverse_Report_NASSCOM.pdf
Metaverse_Report_NASSCOM.pdf
 
Metaverse opportunities for the communications industry
 Metaverse opportunities for the communications industry Metaverse opportunities for the communications industry
Metaverse opportunities for the communications industry
 
Metaverse opportunities for the communications industry
 Metaverse opportunities for the communications industry Metaverse opportunities for the communications industry
Metaverse opportunities for the communications industry
 
A Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT TrendsA Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT Trends
 
A Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT TrendsA Platter of Insights on Navigating IoT Trends
A Platter of Insights on Navigating IoT Trends
 
WEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdfWEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdf
 
WEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdfWEB 3 AND ALL THAT JAZZ.pdf
WEB 3 AND ALL THAT JAZZ.pdf
 
Process oriented architecture for digital transformation 2015
Process oriented architecture for digital transformation   2015Process oriented architecture for digital transformation   2015
Process oriented architecture for digital transformation 2015
 
Process oriented architecture for digital transformation 2015
Process oriented architecture for digital transformation   2015Process oriented architecture for digital transformation   2015
Process oriented architecture for digital transformation 2015
 

Recently uploaded

Predictive Precipitation: Advanced Rain Forecasting Techniques
Predictive Precipitation: Advanced Rain Forecasting TechniquesPredictive Precipitation: Advanced Rain Forecasting Techniques
Predictive Precipitation: Advanced Rain Forecasting TechniquesBoston Institute of Analytics
 
SCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarj
SCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarjSCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarj
SCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarjadimosmejiaslendon
 
Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...
Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...
Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...Voces Mineras
 
RESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptx
RESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptxRESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptx
RESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptxronsairoathenadugay
 
一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格
一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格
一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格q6pzkpark
 
Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...
Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...
Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...Valters Lauzums
 
Aggregations - The Elasticsearch "GROUP BY"
Aggregations - The Elasticsearch "GROUP BY"Aggregations - The Elasticsearch "GROUP BY"
Aggregations - The Elasticsearch "GROUP BY"John Sobanski
 
如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证acoha1
 
Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...
Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...
Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...mikehavy0
 
Digital Transformation Playbook by Graham Ware
Digital Transformation Playbook by Graham WareDigital Transformation Playbook by Graham Ware
Digital Transformation Playbook by Graham WareGraham Ware
 
如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证
如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证
如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证zifhagzkk
 
Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...
Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...
Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...ThinkInnovation
 
如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证acoha1
 
Credit Card Fraud Detection: Safeguarding Transactions in the Digital Age
Credit Card Fraud Detection: Safeguarding Transactions in the Digital AgeCredit Card Fraud Detection: Safeguarding Transactions in the Digital Age
Credit Card Fraud Detection: Safeguarding Transactions in the Digital AgeBoston Institute of Analytics
 
Bios of leading Astrologers & Researchers
Bios of leading Astrologers & ResearchersBios of leading Astrologers & Researchers
Bios of leading Astrologers & Researchersdarmandersingh4580
 
MATERI MANAJEMEN OF PENYAKIT TETANUS.ppt
MATERI  MANAJEMEN OF PENYAKIT TETANUS.pptMATERI  MANAJEMEN OF PENYAKIT TETANUS.ppt
MATERI MANAJEMEN OF PENYAKIT TETANUS.pptRachmaGhifari
 
原件一样伦敦国王学院毕业证成绩单留信学历认证
原件一样伦敦国王学院毕业证成绩单留信学历认证原件一样伦敦国王学院毕业证成绩单留信学历认证
原件一样伦敦国王学院毕业证成绩单留信学历认证pwgnohujw
 
Displacement, Velocity, Acceleration, and Second Derivatives
Displacement, Velocity, Acceleration, and Second DerivativesDisplacement, Velocity, Acceleration, and Second Derivatives
Displacement, Velocity, Acceleration, and Second Derivatives23050636
 
一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样
一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样
一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样yhavx
 

Recently uploaded (20)

Predictive Precipitation: Advanced Rain Forecasting Techniques
Predictive Precipitation: Advanced Rain Forecasting TechniquesPredictive Precipitation: Advanced Rain Forecasting Techniques
Predictive Precipitation: Advanced Rain Forecasting Techniques
 
SCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarj
SCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarjSCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarj
SCI8-Q4-MOD11.pdfwrwujrrjfaajerjrajrrarj
 
Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...
Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...
Las implicancias del memorándum de entendimiento entre Codelco y SQM según la...
 
RESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptx
RESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptxRESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptx
RESEARCH-FINAL-DEFENSE-PPT-TEMPLATE.pptx
 
一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格
一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格
一比一原版(曼大毕业证书)曼尼托巴大学毕业证成绩单留信学历认证一手价格
 
Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...
Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...
Data Analytics for Digital Marketing Lecture for Advanced Digital & Social Me...
 
Abortion pills in Riyadh Saudi Arabia (+966572737505 buy cytotec
Abortion pills in Riyadh Saudi Arabia (+966572737505 buy cytotecAbortion pills in Riyadh Saudi Arabia (+966572737505 buy cytotec
Abortion pills in Riyadh Saudi Arabia (+966572737505 buy cytotec
 
Aggregations - The Elasticsearch "GROUP BY"
Aggregations - The Elasticsearch "GROUP BY"Aggregations - The Elasticsearch "GROUP BY"
Aggregations - The Elasticsearch "GROUP BY"
 
如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(UPenn毕业证书)宾夕法尼亚大学毕业证成绩单本科硕士学位证留信学历认证
 
Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...
Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...
Abortion Clinic in Kempton Park +27791653574 WhatsApp Abortion Clinic Service...
 
Digital Transformation Playbook by Graham Ware
Digital Transformation Playbook by Graham WareDigital Transformation Playbook by Graham Ware
Digital Transformation Playbook by Graham Ware
 
如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证
如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证
如何办理(Dalhousie毕业证书)达尔豪斯大学毕业证成绩单留信学历认证
 
Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...
Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...
Identify Rules that Predict Patient’s Heart Disease - An Application of Decis...
 
如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证
如何办理(WashU毕业证书)圣路易斯华盛顿大学毕业证成绩单本科硕士学位证留信学历认证
 
Credit Card Fraud Detection: Safeguarding Transactions in the Digital Age
Credit Card Fraud Detection: Safeguarding Transactions in the Digital AgeCredit Card Fraud Detection: Safeguarding Transactions in the Digital Age
Credit Card Fraud Detection: Safeguarding Transactions in the Digital Age
 
Bios of leading Astrologers & Researchers
Bios of leading Astrologers & ResearchersBios of leading Astrologers & Researchers
Bios of leading Astrologers & Researchers
 
MATERI MANAJEMEN OF PENYAKIT TETANUS.ppt
MATERI  MANAJEMEN OF PENYAKIT TETANUS.pptMATERI  MANAJEMEN OF PENYAKIT TETANUS.ppt
MATERI MANAJEMEN OF PENYAKIT TETANUS.ppt
 
原件一样伦敦国王学院毕业证成绩单留信学历认证
原件一样伦敦国王学院毕业证成绩单留信学历认证原件一样伦敦国王学院毕业证成绩单留信学历认证
原件一样伦敦国王学院毕业证成绩单留信学历认证
 
Displacement, Velocity, Acceleration, and Second Derivatives
Displacement, Velocity, Acceleration, and Second DerivativesDisplacement, Velocity, Acceleration, and Second Derivatives
Displacement, Velocity, Acceleration, and Second Derivatives
 
一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样
一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样
一比一原版(Monash毕业证书)莫纳什大学毕业证原件一模一样
 

World Economic Forum Metaverse Ecosystem By Utpal Chakraborty.pdf

  • 2. Metaverse Ecosystem ABOUT This insight briefing draws on the collective intelligence of the Forum network to explore the key trends, interconnections and inter-dependencies between industry, regional and global issues. In the briefing, you will find a visual representation of this topic (Transformation Map – interactive version available online via intelligence.weforum.org), an overview and the key trends affecting it, along with summaries and links to the latest research and analysis on each of the trends. The content is continuously updated with the latest thinking of leaders and experts from across the Forum network, and with insights from Forum meetings, projects communities and activities.
  • 3. Metaverse Ecosystem SUMMARY Metaverse Market size was valued at USD 27.21 Billion in 2020 and is projected to reach USD 824.53 Billion by 2030, growing at a CAGR of 39.1% from 2022 to 2030. Some of the high level Layers of Metaverse Ecosystem are - Experience layer, Discovery layer, Creator economy, Spatial computing layer, Decentralization layer, Human interface layer, Infrastructure layer etc. KEY ISSUES 1. Foundational Elements of the Metaverse This virtual world will rely on real technologies and emerging behavioural patterns 2. Working in the Metaverse It could help us collaborate and learn, and it could also fundamentally reshape work in unsettling ways 3. Entertainment and Commerce in the Metaverse From media consumption to sporting events and NFTs, buying and selling things may become a lot more virtual 4. Smart Contracts and Automation Blockchain has the potential to change everything from production to lifestyles 5. Blockchain, Security and Interoperability The technology’s unique aspects and vulnerabilities must be considered during the design process 6. Decentralized Governance and New Models The distributed nature of blockchain can facilitate new ways of doing business 7. Setting Rules for the Metaverse Establishing a safe, welcoming environment will be essential for expansion 8. Gaming and the Metaverse Games are widely viewed as the most likely entry point for many people
  • 4. Metaverse Ecosystem SUMMARY Metaverse Market size was valued at USD 27.21 Billion in 2020 and is projected to reach USD 824.53 Billion by 2030, growing at a CAGR of 39.1% from 2022 to 2030. Some of the high level Layers of Metaverse Ecosystem are - Experience layer, Discovery layer, Creator economy, Spatial computing layer, Decentralization layer, Human interface layer, Infrastructure layer etc. KEY ISSUES 9. Origins of the Metaverse The concept may seem new, but it has been under construction for decades
  • 5. Metaverse Ecosystem 1. FOUNDATIONAL ELEMENTS OF THE METAVERSE This virtual world will rely on real technologies and emerging behavioural patterns Ultimately, there will be no metaverse without the chips and software required to power it. After Meta, the parent company of Facebook, announced plans in late 2021 to move aggressively into developing virtual reality and the metaverse, shares of chipmaker Nvidia hit record highs. Nvidia designs chips and graphics cards that generate high-resolution, 3-D images, as well as software that can be used to design virtual worlds. Other pieces of hardware required for participating in the metaverse include controllers that register hand and finger movements to interact in a virtual environment, and headsets. Some headsets currently available can cost thousands of dollars, though many are available for a few hundred dollars. According to an estimate published by eMarketer, the number of virtual-reality headsets in use globally should increase from 35 million in 2022 to 70 million by 2026. RELATED TOPICS 1. Internet Governance [View Map] Users are ripe for exploitation by the internet’s dominant business model of targeted advertising - and protection from this asymmetry must become an internet governance priority. 2. Behavioural Sciences [View Map] The behavioural sciences are a powerful tool that can be wielded to engender responsible decision-making and improve the quality of life. 3. Cybersecurity [View Map] The digital world connects everything and everyone to apps, data, purchases, services, and communication. 4. Data Policy [View Map] Data has untapped potential to help address gender disparities, track deforestation, detect plastic pollution, and boost agricultural yields. 5. Virtual and Augmented Reality [View Map] Virtual reality was first imagined in science fiction, and emerged in real life via an immersive film-viewing cabinet created in the 1950s.
  • 6. Metaverse Ecosystem 2. WORKING IN THE METAVERSE It could help us collaborate and learn, and it could also fundamentally reshape work in unsettling ways COVID-19 has already made many people a lot more comfortable with the concept of virtual meetings and interaction with colleagues than they have ever been before. A fully-functional metaverse could mean that even in non-pandemic times, virtual work will become much more the norm - with colleagues sitting beside you at “meetings” in avatar form rather than in windows on a screen (though for some that is a less-than-welcome concept). Meta (previously Facebook) had reportedly been using its Horizon Workrooms virtual-reality tool for internal collaboration prior to the company’s announcement in 2021 that it would invest heavily in the metaverse. Professional training could also take on new dimensions. RELATED TOPICS 1. Workforce and Employment [View Map] The world of work is changing fast - and mapping out healthy new work models is necessary to channel that change into the creation of stronger labour markets and sufficient safeguards. 2. Mental Health [View Map] The cost of mental health conditions (and related consequences) is projected to rise to $6 trillion globally by 2030, from$2.5 trillionin2010, according to a study published by the World Economic Forum and the Harvard School of Public Health. 3. Corporate Governance [View Map] Corporate governance should ensure decision-making in the best interests of all stakeholders - including customers, employees, regulators, local communities, and shareholders. 4. Cybersecurity [View Map] The digital world connects everything and everyone to apps, data, purchases, services, and communication. 5. Education, Skills and Learning [View Map] Technological innovation is fundamentally transforming education, and updating the skills required for modern work.
  • 7. Metaverse Ecosystem 3. ENTERTAINMENT AND COMMERCE IN THE METAVERSE From media consumption to sporting events and NFTs, buying and selling things may become a lot more virtual In the US, the National Basketball Association has been offering virtual courtside seats accessible via headset. One reporter described the experience at a game as being very authentic, though he spent a good amount of time helping another avatar in the virtual audience deal with what seemed like a bad connection. As businesses including entertainment companies scope out new ways of drawing audiences and making money in the metaverse, many such experimental virtual-reality forays are likely to proliferate. RELATED TOPICS 1. Virtual and Augmented Reality [View Map] Virtual reality was first imagined in science fiction, and emerged in real life via an immersive film-viewing cabinet created in the 1950s. 2. Future of Consumption [View Map] By the year 2027, annual consumption in China is expected to reach $8.2 trillion, or nearly twice what it had been just a decade earlier. In India, annual consumer spending is expected to rise even more dramatically, from about $1.5 trillion currently to $6 trillion by 2030. 3. Blockchain [View Map] Blockchain can enable greater trust and transparency through decentralization, cryptography, and the creation of new incentives. Best-known as the digital underpinning of Bitcoin, it has evolved into a foundational technology with promise in many areas. 4. Innovation [View Map] Innovation is the process of turning new ideas into value, in the form of products, services, business models, and other new ways of doing things. It is complex and goes beyond mere creativity and invention to include the practical steps necessary for facilitating adoption. 5. Retail, Consumer Goods and Lifestyle [View Map] The 21st century consumer landscape is remarkably different from its 20th century predecessor - not least due to a pandemic that decimated retail sales in many places in early 2020. Material goods sitting in stores once defined the market, but people now expect more.
  • 8. Metaverse Ecosystem 4. SMART CONTRACTS AND AUTOMATION Blockchain has the potential to change everything from production to lifestyles “Smart” contracts are blockchain technology-based and self- executing. That means that they have conditions embedded within their underlying code - formulated as ‘if X happens trigger Y,’ for example - which makes the resulting interactions immutable and censorship-resistant, some of the primary characteristics that have helped to make blockchain distinct and desirable. This ability to automate has shown particular promise in a variety of areas, from the functioning of supply chains to providing insurance. When combined with Internet of Things (IoT) devices, for example, self-executing contracts can facilitate the automation of tasks that were previously manual, such as receiving a series of necessary signatures and verifications. RELATED TOPICS 1. Artificial Intelligence [View Map] Artificial Intelligence is rife with contradictions. It is a powerful tool that is also surprisingly limited in terms of its current capabilities. 2. Insurance [View Map] The insurance industry is faced with emerging challenges related to everything from the repercussions of COVID-19 to worsening climate change. 3. Mobility [View Map] Mobility is a fundamental human need, and an essential enabler of prosperity. 4. Cybersecurity [View Map] The digital world connects everything and everyone to apps, data, purchases, services, and communication. 5. Fourth Industrial Revolution [View Map] The Fourth Industrial Revolution represents a fundamental change in the ways that we live and work.
  • 9. Metaverse Ecosystem 5. BLOCKCHAIN, SECURITY AND INTEROPERABILITY The technology’s unique aspects and vulnerabilities must be considered during the design process One of the major selling points of blockchain is the ability to converge it with other core technologies of the Fourth Industrial Revolution in creative ways. Starbucks, for example, announced plans to develop an artificial intelligence-based demand forecast and logistics management system called Deep Brew. The artificial intelligence aspect of the system relies on data aggregated through the Internet of Things from the coffee company’s equipment and products, which can then be traced transparently through blockchain. Many governments have begun lending support to businesses to pursue such efforts by funding and developing the infrastructure necessary for smart cities and smart factories. As with most other technologies, the ultimate level of security that is afforded by blockchain technology boils down to decisions made during the design process. RELATED TOPICS 1. Infrastructure [View Map] Infrastructure is essential for economic development. It can boost health, wealth, access to education, and public safety - and help prepare for global crises like pandemics. 2. The Digital Transformation of Business [View Map] COVID-19 catapulted businesses everywhere into the digital-first world. Technology had already been reshaping industries, business models, supply chains when the pandemic hit - as people demanded more touchless and online experiences. 3. Supply Chains [View Map] Supply chains are the circulatory system of the global economy, providing access to the things we need to support commerce and sustain life. 4. Cybersecurity [View Map] The digital world connects everything and everyone to apps, data, purchases, services, and communication. 5. Energy [View Map] Energy consumption and production account for about two-thirds of global greenhouse gas emissions, and 81% of the global energy mix is still based on fossil fuels - a percentage that has not budged in decades.
  • 10. Metaverse Ecosystem 6. DECENTRALIZED GOVERNANCE AND NEW MODELS The distributed nature of blockchain can facilitate new ways of doing business In order to make the most of blockchain technology, organizations will have to collaborate. In an acknowledgement of this fact, there has been a proliferation of industry consortia dedicated to blockchain exploration and implementation. These groups are often collaborating to an unprecedented degree, even drawing together rival businesses determined to cooperate in order to truly unlock the full potential of technology through new governance models. To-date, almost 400 such organizations have been registered, with several seeming to appear every month. The Blockchain Insurance Industry Initiative (b3i), for example, has brought together 20 key industry players such as Allianz, Liberty Mutual, and the China Pacific Insurance Company in order to explore and deploy the technology in different ways. RELATED TOPICS 1. Justice and Law [View Map] We face considerable challenges when it comes to ensuring that the most robust science is used in the delivery of justice, and that access to legal protections is made available to the greatest number of people possible. 2. Workforce and Employment [View Map] The world of work is changing fast - and mapping out healthy new work models is necessary to channel that change into the creation of stronger labour markets and sufficient safeguards. 3. Public Finance and Social Protection [View Map] Many countries in both the developed and the developing worlds face serious challenges when it comes to providing retirement security for the elderly, opportunity for young people, and broader financial well-being for everyone. 4. Corporate Governance [View Map] Corporate governance should ensure decision-making in the best interests of all stakeholders - including customers, employees, regulators, local communities, and shareholders. 5. The Digital Economy [View Map] The disruption caused by the Fourth Industrial Revolution has been accelerated by COVID-19, and increased our need for agility, adaptability, and positive transformation.
  • 11. Metaverse Ecosystem 7. SETTING RULES FOR THE METAVERSE Establishing a safe, welcoming environment will be essential for expansion There is some concern that the metaverse will channel the same misogyny, misinformation, and generally shameful behaviour rampant on the current version of the internet - albeit in a more immersive format. In late 2021, Meta (formerly Facebook) opened up access to its Horizon Worlds virtual-reality social platform, widely seen as its first significant foray into what may become the metaverse. One beta tester of the platform reported that she was groped by another avatar, and “there were other people there who supported this behaviour” (it was later determined that she hadn’t made use of available safety features - though that publicized determination drew recriminations). In February 2022 Meta introduced a “Personal Boundary” feature for Horizon Worlds, which prevents avatars from coming within a certain distance of one another - as a means of more easily avoiding unwanted interactions. RELATED TOPICS 1. Justice and Law [View Map] We face considerable challenges when it comes to ensuring that the most robust science is used in the delivery of justice, and that access to legal protections is made available to the greatest number of people possible. 2. Global Governance [View Map] Global governance is a means to manage issues that cut across national borders - whether it is a pandemic, a financial crisis, climate change, or a geo-economic dispute. 3. Future of Media, Entertainment and Sport [View Map] The world of media, entertainment, and sport has been upended by new business models, user-generated content, and the use of digital platforms to effectively distribute everything from streamed matches to social messages. This is having a direct impact on the moulding of cultures and societies. 4. Agile Governance [View Map] “Agile” governance means more than just coordinating effective, efficient, and reliable public and private institutions to effectively manage problems - the term implies a forward-looking approach that seeks to anticipate problems before they materialize. 5. Leadership [View Map] Many aspects of the ways that governments and businesses operate are in flux, due in large part to the sweeping technology changes propelling the Fourth Industrial Revolution. Leadership is no exception.
  • 12. Metaverse Ecosystem 8. GAMING AND THE METAVERSE Games are widely viewed as the most likely entry point for many people In many ways, video games have long been delivering the same types of experiences anticipated in the metaverse. Now, gaming is expected to serve as a primary means for new users to delve into this forthcoming iteration of the internet. “The Sims,” a popular life-simulation game, was first released in 2000 - about 18 years after the author Neil Stephenson is believed to have coined the term “metaverse” in his 1992 novel “Snow Crash.” The game enabled players to conduct digital characters through relatively mundane, true-to-life situations like dating, buying a home, or finding a new job. Microsoft’s Xbox Live enabled players to compete against each other online in 2002, and the popular game Fortnite has people engaging their personal avatar in combat with other avatars. RELATED TOPICS 1. Blockchain [View Map] Blockchain can enable greater trust and transparency through decentralization, cryptography, and the creation of new incentives. Best-known as the digital underpinning of Bitcoin, it has evolved into a foundational technology with promise in many areas. 2. Financial and Monetary Systems [View Map] The management of financial and monetary systems is intimately connected to global risk - in the form of potential market meltdowns, spiralling inflation, pandemics, and heightened geopolitical tension. 3. Retail, Consumer Goods and Lifestyle [View Map] The 21st century consumer landscape is remarkably different from its 20th century predecessor - not least due to a pandemic that decimated retail sales in many places in early 2020. Material goods sitting in stores once defined the market, but people now expect more. 4. Cybersecurity [View Map] The digital world connects everything and everyone to apps, data, purchases, services, and communication. 5. Digital Communications [View Map] The digital communications industry is facilitating unprecedented levels of global internet use, online social interaction, and financial inclusion. As the industry is transformed, effective policy and regulation that support businesses could boost productivity.
  • 13. Metaverse Ecosystem 9. ORIGINS OF THE METAVERSE The concept may seem new, but it has been under construction for decades The newest (potential) version of the internet actually has a history stretching back decades - at least, in terms of conception. The 1935 short story “Pygmalion’s Spectacles” is widely credited with an initial description of what we now think of as virtual reality, via the depiction of a film where “you are in the story,” which “is all about you.” The “Sensorama Simulator,” a virtual reality machine that enabled users to watch films in a personal viewing cabinet meant to give them a sense they were doing things like driving a dune buggy by deploying blowing wind, aromas, and vibrations, was patented in the early 1960s. The machine’s inventor also patented the first head-mounted display, a precursor to the headsets expected to serve as a bridge between users and the metaverse. In 1992, the science fiction writer Neal Stephenson published the novel “Snow Crash,” which is credited with coining the term “metaverse.” RELATED TOPICS 1. Arts and Culture [View Map] The arts are a fundamental element of a healthy society that helps us interpret both the world and one another - particularly during periods when social contact might be limited to faces on a computer screen and streaming entertainment. 2. Virtual and Augmented Reality [View Map] Virtual reality was first imagined in science fiction, and emerged in real life via an immersive film-viewing cabinet created in the 1950s. 3. The Digital Economy [View Map] The disruption caused by the Fourth Industrial Revolution has been accelerated by COVID-19, and increased our need for agility, adaptability, and positive transformation. 4. Future of Consumption [View Map] By the year 2027, annual consumption in China is expected to reach $8.2 trillion, or nearly twice what it had been just a decade earlier. In India, annual consumer spending is expected to rise even more dramatically, from about $1.5 trillion currently to $6 trillion by 2030. 5. The Digital Transformation of Business [View Map] COVID-19 catapulted businesses everywhere into the digital-first world. Technology had already been reshaping industries, business models, supply chains when the pandemic hit - as people demanded more touchless and online experiences.