Navigating the metaverse: policy, business, and future directions

Abstract

In this final chapter, we integrate the ideas discussed in earlier chapters regarding how Web3 and the metaverse are evolving and impacts they are having on economies, societies,and organizations. We consider the future of Web3 and the metaverse and provide perspective on how more applications are likely to be launched as blockchain matures and increasing numbers of individuals and organizations are likely to take advantage of these innovations. The chapter also discusses how advances in other technological innovations such as AI, AR, and VR are likely to affect the potentials of Web3 and the metaverse. It describes and details the potentials as well as the constraints that limit the development of Web3. The chapter also addresses the importance of organizational, interorganizational, and cultural changes resulting from Web3 and the metaverse. Implications for policymakers, businesses, consumers, and scholarly research are discussed.