The World Economic Forum (WEF), in partnership with Accenture (NYSE:ACN) and Microsoft (NASDAQ:MSFT), has unveiled a working prototype of its metaverse venture. It is known as The Global Collaboration Village and was revealed at the WEF Annual meeting in Davos.
To use the metaverse and its technology for the public good, the World Economic Forum aims to encourage dialogue, among other initiatives, with the upcoming project.
The metaverse village will reportedly be built using Microsoft’s in-house technology to target 2D and 3D mediums. Klaus Schwab, founder and executive chairperson of the WEF, hopes the village will set the foundation for a borderless collaborative space.
Peaceful Dialogue in the Metaverse
In a press conference on January 17th, founder and executive chairperson of the WEF, Klaus Schwab, CEO of Accenture, Julie Sweet, and Vice-Chair President of Microsoft, Brad Smith, shared their insight on the Global Collaboration Village.
The WEF founder explained that the Global Collaboration Village is a “pioneering” effort to use the metaverse for good. He added that the virtual village is a dream come true because it calls for an open platform where everyone worldwide can participate.
Shwab revealed that a consortium of over 80 international companies and organizations, including the International Monetary Fund (IMF), World Trade Organization (WTO), and United Nations Development Program (UNDP), among others, partnered to build the Global Collaboration Village.
The WEF executive hoped the metaverse would continuously serve as a meeting ground for Davos’ stakeholders. Schwab added the physical world is limited, while the virtual world is full of unlimited possibilities. He is fascinated by the capabilities of technology despite its experimental nature.
The Global Collaboration Village hopes to increase its impact by encouraging dialogues between leaders under the WEF.
Later in the press conference, the Vice-Chair President of Microsoft, Brad Smith, emphasized the global importance of the Global Collaboration Village due to the WEF’s international impact.
He shared that The Global Collaboration Village capitalizes on the opportunity to create a borderless village open to everyone. It enables everyone accessing the internet and the metaverse to engage in a virtual conversation.
Smith also revealed that the Global Collaboration Village would be available on various platforms, including 2D and 3D devices. He added that the virtual village has advanced considerably and is ready for a broader community. Smith concluded that their main goal is to complete the product by this year.
On the Flipside
- The WEF unveiled the Global Collaboration Village proof of concept in May last year.
- Microsoft’s Airband initiative works with local and global providers to bring internet access to 100 million Africans by 2025.
Why You Should Care
The World Economic Forum is one of the most influential independent organizations. The forum is one of the most credible and respected, centered around business, politics, governance, and more. The WEF’s interest in Web3 technology, especially the metaverse, could also help legitimize the space and encourage mass and institutional adoption.
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