Developing Metaverses and Implementing Metaverse- Enabling Technologies: Social and Humanitarian Aspects and Global Challenges

Businesses, societies, and states can face issues in metaverses (MVs) that could become more serious and larger in scope amid the active development of MVs, which are still at the level of scattered projects. MVs and MV-enabling technologies (MV tech) are changing modes of social interaction. Through investment in MVs and the utilisation of new capabilities, businesses can enhance their operations with cryptocurrencies and non-fungible tokens. MV tech can cause market inequality as well as the underrepresentation of the Global South in the global economy. The brief aims to elaborate a balanced policy for the progressive and secure development of MVs. It proposes implementing systematic research on MVs to identify the most important risks and benefits. In the future, a model approach and general principles should be worked out to elaborate standard settings in this area.