The metaverse has been a buzzword in and out of the Web3 world for the past year. Also, development in the metaverse is something that has held strong relative to the general turmoil of the decentralized space.

It is also a hot topic at the 2023 World Economic Forum (WEF) in Davos, Switzerland. The WEF has been developing its own initiative, “Defining and Building the Metaverse”, with the participation of more than 120 participants, for which it held a press conference on January 18.

The WEF panel highlighted the first two documents of the initiative, which cover interoperability, governance and the role of the consumer in the metaverse of the future.

Huda Al Hashimi, one of the panelists and deputy cabinet minister for strategic affairs in the United Arab Emirates,…