Report by World Government Summit Outlines Path to Governance of the Metaverse

1. Standards: although still at an early stage, the party leading the development of Metaverse standards is the industry itself. Governments have a role to play in ensuring these standards allow for maximum participation.

2. Laws and Regulations: introducing appropriate laws and regulations for user and data protection will be vital towards encouraging participation and investment in the Metaverse by consumers and industry players.

3. Policies and Incentives: governments should consider where policy mechanisms and incentives are needed to drive development and adoption of the Metaverse, and on this front, several governments are already taking action.

4. Infrastructure: given that the necessary infrastructure does not currently exist, efforts to build it will be critical to the development of the metaverse. Here, governments have a role to support infrastructure development through subsidies, incentive programs, or through other appropriate models of partnership with the private sector.

Thomas Kuruvilla, Managing Partner at Arthur D. Little Middle East, said, "The report is launching at a key moment in time as disruptive technology is now finally being transmuted to the benefit of society, triggering investment along the way for dynamic exchanges to last long term.”